Brazil imported 40,100 mt of CRC in July, 183 percent more than in June, at an average FOB price 3.1 percent higher, $533/mt.
Market sources told SteelOrbis that the high domestic prices are the main reason behind the increased volume imported: CRC is still being sold to local consumers at BRL2,550/mt ($716/mt), FOB full taxes except IPI, the same price in BRL since a 5 percent increase in January, although in $ terms the price actually went down by 20 percent over the period, reflecting the variation of the BRL/$ ratio.
The main origins of the CRC imports were China (26,500 mt at $535/mt), Russia (9,900 mt at $470/mt) and South Korea (2,910 mt at $670/mt), all FOB conditions.
Meanwhile, Brazil exported 36,900 mt of CRC in July, 136 percent more than in June, at an average FOB price 7.6 percent higher, $513/mt, of which 22,900 mt by CSN at $479/mt and 13,600 mt by Usiminas at $564/mt.
The main destinations were the US (33,000 mt at $494/mt) and Latin America (3,800 mt at $676/mt), both FOB conditions.
1 US$ = BRL 3.58 (August 28)