Brazilian steelmakers are negotiating HRC exports with their South American clients at a reference price of $890/mt, against $850/mt two weeks ago, FOB conditions for the basic commercial grades.
Meanwhile, importers in the north of the country are receiving offers from Asian producers in the range of $840/mt, unchanged from two weeks ago, CFR conditions for the basic commercial grades. A local source told SteelOrbis that Chinese exporters are reluctant to close fresh deals, until a final decision is made in relation to export tax rebate cuts in China.
In February, Brazil exported 17,000 mt of HRC, in average at $571/mt, while imported 14,200 mt of the product, in average at $514/mt, both FOB conditions.
In the Brazilian domestic market, HRC of the basic commercial grades remains offered at BRL 5,765/mt ($1,017/mt), against BRL 5,429/mt two weeks ago, CFR conditions, no taxes included. Such price refers to high and medium sized volumes of the product, when sold directly to large consumers or to distributors.
USD= BRL 5.67 (March 31)
