Following a sharp price decline last week, attributed by players to indirect effects of the Covid-19 pandemic, Brazilian producers remain negotiating exports of HRC of the basic commercial grades at $450/mt, FOB conditions, the same reference as last week, local sources told SteelOrbis.
In March, Brazil exported 179,300 mt of HRC, against 48,700 mt in February. ArcelorMittal exported 132,200 mt at $472/mt, CSN exported 45,800 mt at $542/mt, and Usiminas exported 1,300 mt at $680/mt, all FOB conditions, with different quality grades and price deals probably closed in January. The destinations were South American countries (111,000 mt at $472/mt), Portugal (45,500 mt at $542/mt), Mexico (20,000 mt at $480/mt) and the Dominican Republic (2,800 mt at $506/mt).
According to sources, HRC exports in April are set to a decline from March totals, chiefly due to the low volume of deals closed with South American clients