A market source in Brazil told SteelOrbis that the reference price for the export of Galvalume remains at $750/mt, the same since a $100/mt decline six weeks ago, FOB conditions for the AZ-150 grade product.
Local sources tell SteelOrbis that there is an incipient recovery of the housing sector in Brazil, which had operations reduced by 60 percent from February to March, due to the effects of the Covid-19 pandemic, reducing the domestic demand for Galvalume, among other steel products, and resulting in more material available for export.
With the increased domestic demand, coupled with reduced production by CSN and ArcelorMittal, export prices are expected to recover, although not necessarily to the pre-pandemic level. Galvalume exports in April have reportedly increased from the 500 mt of March, according to preliminary numbers from customs authorities.