A source linked to a Brazilian distributor told SteelOrbis that HRC prices have increased by 9 percent, effective from August 1, pushing domestic prices to BRL 4,350/mt ($1,381/mt), FOB full taxes except IPI, considering sales of small to medium sized volumes of basic commercial grade products.
The increase was originally established by the local flats producer Usiminas at 11 percent, effective from early July, but was postponed and reduced on fears of additional competition from the imported product.
USD = BRL 3.15 (August 9)