Brazilian producers are negotiating HRC of the basic commercial grades for export at $590/mt, FOB conditions, a stable price over the last three weeks, a local exporter told SteelOrbis.
The source mentioned that such stability derives chiefly from the low level of deals closed during the year-end holidays, as prices are expected to increase in line with international steel prices.
In December, Brazil exported 177,500 mt of HRC, 15 percent less than in November, according to the country’s ministry of industry, foreign trade and services, MDIC.
ArcelorMittal exported 136,100 mt at $538/mt, CSN exported 37,700 mt at $580/mt and Usiminas exported 3,500 mt at $785/mt, all FOB conditions, with price deals closed around October 2017.
The main destinations of the Brazilian HRC in December were Asia (77,900 mt), South America (52,200 mt), the Middle East (24,400 mt) and the EU (22,600 mt).