The last offer of CRC received from China by a Brazilian importer was priced at $880/mt, stable from two weeks ago, CFR conditions for shipments to a port in the Northeastern coast of Brazil, with basic commercial grades as reference. Local sources mentioned that no fresh import deals were recently closed.
In March, Brazil exported 36,600 mt of CRC, while importing 10,000 mt of the product, against 15,900 mt and 3,800 mt, respectively, in February.
The exports were almost entirely from Usiminas (36,100 mt at $551/mt), destined to Latin America (21,600 mt at $612/mt) and Europe (14,300 mt at $465/mt), while small volumes were shipped to Africa, Asia and the US, all FOB conditions.
The imports came from China (6,900 mt), Sweden (1,500 mt at $801/mt) and South Korea (900 mt at $738/mt), also FOB conditions.
In the Brazilian domestic market, CRC of the basic commercial grades is currently offered in medium to large volumes by the producers at BRL 6,104/mt ($1,073/mt), against BRL 5,930/mt two weeks ago, ex-works, no taxes included. The increase reflects chiefly higher international prices of the product.
USD = BRL 5.69 (April 13)