Brazilian producers are negotiating HRC exports with their South American clients in a reference price of $950/mt, against $890/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 over the last four weeks, CFR conditions for the basic commercial grades. A local source told SteelOrbis that no fresh deals were closed at that price level.
In March, Brazil exported 57,500 mt of HRC, while imported 39,400 mt of the product, against respectively 17,000 mt and 14,200 mt in February.
The exports of March were chiefly sent to South American countries (54,100 mt at $507/mt), FOB conditions. The exporters were ArcelorMittal (46,000 mt at $485/mt) and Usiminas (10,900 mt at $546/mt), all FOB conditions, while a small volume was shipped by CSN.
The imports were destined chiefly to states in the north and northeast regions (32,800 mt at $519/mt FOB, all shipped from Russia), reflecting the logistic problems to transport steel products from the Brazilian producers in the southeast.
In the Brazilian domestic market, HRC of the basic commercial grades remains offered at BRL 6,198/mt ($1,101/mt), against BRL 5,765/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 5.63 (April 15)