Brazilian producers are negotiating HRC exports with their South American clients in a reference price of $1,300/mt, against $1,220/mt two weeks ago, FOB conditions for the basic commercial grades.
In May, Brazil exported 13,000 mt of HRC, while importing 3,900 mt of the product, comparable to 30,400 mt and 11,900 mt in April, respectively.
The exports of May were chiefly destined to Latin American countries (9,000 mt at $787/mt), while 4,000 mt at $412/mt were destined to China. The exporters were ArcelorMittal (8,100 mt at $765/mt), Gerdau (4,000 mt at $412/mt), CSN (500 mt at $827/mt) and Usiminas (400 mt at $1,155/mt) all FOB conditions.
In the Brazilian domestic market, HRC of the basic commercial grades is offered at BRL 7,300/mt ($1,451/mt), little changed from two weeks ago, ex-works 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 5.03 (June 16)