A source linked to a Brazilian exporter informed SteelOrbis that $580/mt, FOB conditions, is the new reference price for the country’s exports of HRC of the basic commercial grades.
The reference price compares with $570/mt last week, maintaining the uptrend started one month ago when the reference price was within a range of $520/mt to $530/mt.
According to the source, HRC export prices are following increasing international prices, chiefly in China.
Preliminary data unveiled by Brazilian customs authorities point to a significant increase in August from the 117,800 mt of HRC exported from Brazil in July.