A market source in Brazil told SteelOrbis that the reference price for the export of Galvalume is currently $810/mt, against $800/mt two weeks ago, CFR for sales to countries in Europe, AZ-150 grade product.
In November, Brazil exported a mere 500 mt of Galvalume, all destined to South American countries, in average at $832/mt, FOB conditions. This compares with 6,900 mt in October, a volume that included 6,700 mt to the US, explaining the monthly decline.
Meanwhile, Brazil imported in November 11,500 mt of Galvalume, of which 11,400 mt from China at $692/mt, FOB conditions. Small volumes were imported from South Korea, India and Italy.
From the volume imported in November, 2,300 mt was destined to states in the north and northeast of the country, possibly reflecting the logistic problems involved in the transportation between steel producers in the southeast and clients in the north. A steel trader in the state of Ceara, in the northeast, told SteelOrbis that he usually receives lower quotations in CFR terms from producers in Asia, when compared with offers from Brazilian producers.
The last offer of Galvalume received by a Brazilian importer from China was priced at $755/mt against $750/mt two weeks ago, CFR conditions to a port in the south or southeastern coast.