Brazil imported 6,400 mt of CRC in April, 2.5 percent less than in March, at an average FOB price stable of $596/mt, according to the local ministry of industry, foreign trade and services, MDIC.
It is the lowest monthly volume since September 2016, in a downtrend attributed to higher international steel prices combined with the devaluation of the local currency, resulting higher prices of the imported product in BRL terms.
Most of the imports in April came from Asia, 6,100 mt at $580/mt, of which 4,000 mt at $512/mt from China, 1,600 mt at $698/mt from South Korea, and 400 mt at $605/mt from Taiwan, while only 300 mt at $989/mt was imported from the EU, all FOB conditions.
A source from a distributor in the north of the country told SteelOrbis that he has restarted imports of CRC from China, after two months without imports. He mentioned that in his last import deal, in a shipment set to arrive in Brazil in June, he paid $500/mt, CFR conditions, for Chinese CRC.
He added that so far in this year, Brazilian producers have increased prices at least twice, so the imported product has maintained competitiveness, chiefly for consumers located far from the producers in the southeast of the country.
He quoted domestic offers from Brazilian producers in the range of BRL 3,000/mt ($943/mt), ex-works.
$1 = BRL 3.18 (May 9)