Brazilian producers are negotiating exports of HRC to certain South American countries at $560/mt, against $540/mt last week, CFR conditions for the basic commercial grades. The price reflects a $20/mt increase in FOB prices, as freight rates are stable from last week, with road transportation to Uruguay, Argentina and Chile in the $40/mt to $50/mt range.
A local source mentioned that price adjustments due to the decision by President Trump to impose tariffs on Brazilian steel exports to the US have not been considered yet. In the case of HRC, the product was not exported from Brazil to the US this year.
In November, Brazil exported 130,600 mt of HRC, against 131,000 mt in October. The destinations were Taiwan (38,700 mt at $391/mt), South America (34,500 mt at $469/mt), United Arab Emirates (32,700 mt at $372/mt) and Turkey (24,700 mt at $387/mt), all FOB conditions, different quality grades and price deals probably closed in September.