A source linked to a Brazilian producer told SteelOrbis that the reference price for the export of hot dipped galvanized products (HDG) to the US is now $740/mt, against $780/mt two weeks ago, CFR conditions for ports in the US East coast, having the G40 grade and 4.75mm thickness product as reference. For shipments to Europe, the reference price is $750/mt, under the same conditions.
In the Brazilian domestic market, HDG is sold today by distributors, in small volumes, at BRL 4,819/mt ($1,153/mt), stable in BRL over the last six weeks, ex-works, full taxes except IPI, having the Z-100, 1.11mm thickness product as reference. Larger volumes or direct sales by steel producers are usually entitled to discounts.
The last offer of HDG received by a Brazilian importer from China was priced at $700/mt, the same price over the last eight weeks, CFR conditions to a port in the south or southeast coast of Brazil, with the Z100/SGCC grade as reference.
In October, Brazil exported 34,900 mt of HDG, while importing 27,000 mt of the product, against 10,900 mt exported and 17,600 mt imported in September.
The main destinations of October were the US (26,600 mt at $797/mt), Belgium and Luxembourg (4,400 mt at $342/mt exported by ArcelorMittal, at a non-market price) and South America (3,900 mt at $854/mt), all FOB conditions and price deals probably closed in August. The exporters were CSN (18,400 mt), Usiminas (12,100 mt) and ArcelorMittal (4,400 mt).
The main origins of the imports in October were China (23,300 mt at $640/mt), South Korea (2,200 mt at $820/mt) and Europe (1,000 mt at $883/mt)
USD = BRL 4.18 (November 14)