The last offer received for Brazilian import CRC from China was priced at $880/mt, and that price is unchanged in the past two weeks, 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, as buyers are waiting for definitions on export tax rebates in China.
In February, Brazil exported 15,900 mt of CRC, in average at $633/mt, while imported 3,800 mt of the product, in average at $731/mt, all 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 5,930/mt ($1,022/mt), against BRL 5,892/mt two weeks ago, ex-works, no taxes included. The increase reflects chiefly exchange rate variations.
USD = BRL 5.80 (March 29)