The last offer of CRC received from China by Brazilian importers was priced at $562/mt, against $560/mt four weeks ago, both CFR conditions for shipment to a port in the South or Southeastern coast of Brazil, with the SAE 1008/SPCC grade as reference.
Brazil imported 4,630 mt of CRC in January, against 16,200 mt in December, according to the country’s ministry of industry, foreign trade and services, MDIC. The main origins in January were China (2,900 mt at $626/mt), Sweden (1,400 mt at $761/mt), and Taiwan (100 mt at $761/mt), all FOB conditions.
Meanwhile, Brazil exported in January 59,300 mt of CRC, in average at $659/mt, FOB conditions, with price deals probably closed in November 2018. The volume exported in January was the highest in recent years, reflecting the search for alternative sources for local CRC production, due to the reduced demand from Brazilian auto and domestic appliance manufacturing sectors.