Brazilian exports of Galvalume in September were limited to a shipment of 5,700 mt by ArcelorMittal to Argentina, at $770/mt, FOB conditions, a price deal probably closed in July. The monthly export total compares with 19,800 mt at $915/mt FOB in August, all shipped by CSN and destined to the US and Argentina.
The decline in exports reflects CSN and ArcelorMittal’s focus on serving the domestic market, where current prices are estimated at BRL 4,630/mt ($1,476/mt), ex-works, full taxes except IPI, having the AZ150 grade as reference.
Prompted by such high domestic prices, the country’s imports of Galvalume in September have reached 31,300 mt, all from China at $703/mt, FOB conditions, against 17,000 mt at the same price in August.
Brazilian producers are currently negotiating Galvalume for export in a range of $865/mt to $905/mt, FOB conditions, stable over the last three weeks.
USD = BRL 3.136 (October 5)