A Brazilian exporter told SteelOrbis that he remains closing deals at $860/mt, FOB conditions, for the export of Galvalume, a price already stable for two months.
The source mentioned that exports remain as a “last resort” sale, as the more attractive domestic sales remain closed at the equivalent to $980/mt, FOB, no taxes included.
The reduced domestic demand, resulting from a lackluster economic activity, was compensated by reduced production by CSN and ArcelorMittal, the local companies licensed by BIEC to produce Galvalume.
With the high domestic price, Brazilian exports of Galvalume were reduced in July while imports increased. As a result, Brazil became a net importer of 11,000 mt of Galvalume, with exports of 6,300 mt at $718/mt in average, price deals probably closed in May, and imports of 17,300 mt at $551/mt, both FOB conditions.