The Brazilian imports of CRC fetched 5,700 mt in September, 59 percent more than in August, at an average FOB price reduced by 13 percent to $529/mt.
It is the second consecutive increase, as from July to August there was a 21 percent increase of CRC imported by the country, but the monthly volume still remains far from averages of 26,000 mt per month in 2015, or the 40,000 mt imported per month in 2014.
The reduced volume imported reflects chiefly the lower demand from the local automotive and domestic appliances sectors, severely hit by the poor performance of the Brazilian economy.
The main origin of the CRC imported in September was Asia (5,400 mt, of which 4,000 mt from China and 1,300 mt from South Korea), while 300 mt were imported from the EU.
Most of the increased volume imported in September reflects 3,600 mt imported from China at $472/mt by a steel distributor in the northeastern state of Piaui, which had imported only 200 mt in August).
He mentioned that he remains open to imports of CRC at up to $500/mt, FOB conditions, a figure that he considers as more attractive than the higher priced acquisitions from the Brazilian steel producers in the southeast.