A source from a market source in Brazil told SteelOrbis that the reference price for the export of Galvalume is currently at $870/mt, against $920/mt two weeks ago, CFR for sales to countries in Europe, AZ-150 grade product.
The source mentioned that the reduction is associated with lower FOB prices, as freight rates were relatively constant.
Currently at a low pace, the production of Galvalume and exports of the product are expected to increase, as CSN, one of the local producers, is expected to restart an idled blast furnace at its Volta Redonda plant.
In September, Brazil exported only 265 mt of Galvalume, while importing 19,500 mt of the product.