Brazilian producers remain negotiating Galvalume for export at $940/mt, FOB conditions, a local exporter told SteelOrbis.
The reference price has been stable since November 2017, the source said, adding that the competitiveness of the Brazilian product is limited to destinations favored by logistics, such as the US and Latin American countries.
In December, Brazil exported 9,500 mt of Galvalume, 7.4 percent more than in November, at an average FOB price reduced by 1.1 percent to $914/mt, with price deals probably closed in October 2017.
CSN exported 9,200 mt, while ArcelorMittal exported 300 mt, having the US (8,100 mt) and Argentina (1,200 mt) as the main destinations.
In the Brazilian domestic market, Galvalume is currently sold by distributors at BRL 4,670/mt ($1,443/mt), ex-works, full taxes except IPI.
Reflecting such high domestic prices, in December Brazil imported from China 11,400 mt of Galvalume at $651/mt, FOB conditions.
During 2017, Brazil was a net importer of Galvalume, with a total of 236,300 mt imported, against exports of 129,500 mt. CSN and ArcelorMittal are licensed by BIEC to produce Galvalume in Brazil, but the combined capacities of the companies usually are not sufficient to supply the local market.
USD = BRL 3.23 (January 4)