Brazilian producers remain negotiating HRC exports in a reference price of $450/mt, stable since a decline from $550/mt four weeks ago, attributed to indirect effects of the Covid-19 pandemic. The price refers to FOB conditions for the basic commercial grades.
Preliminary indications are pointing to a two-digit decline in April from the 179,300 mt of HRC exported from Brazil in March. Integrated steel producers in Brazil are reportedly idling their blast furnaces, aiming at operating the plants at a combined operational rate equivalent to 41 percent of their nameplate capacities.
