HRC export price shows sharp decline in Brazil

Tuesday, 31 March 2020 20:31:27 (GMT+3)   |   Sao Paulo

Brazilian producers are negotiating exports of HRC of the basic commercial grades at $450/mt, against $550/mt last week, FOB conditions, local sources told SteelOrbis. The $100/mt week-on-week drop is attributed exclusively to the Covid-19 outbreak, as mills begin idling facilities and steel distributors expect a 50 percent decline in domestic demand.

In February, ArcelorMittal exported 41,800 mt of HRC from Brazil at $421/mt, while Usiminas exported 6,900 mt at $711/mt, both FOB conditions, with different quality grades and price deals probably closed in December.

Preliminary indications from the Brazilian customs authorities are pointing to a significant increase in March from the volume of HRC exported from Brazil in February.

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