The Brazilian producers are negotiating HRC exports with their South American clients in a reference price of $835/mt, against $850/mt two weeks ago, FOB conditions for the basic commercial grades.
In the Brazilian domestic market, HRC of the basic commercial grades is sold by producers, in medium to large volumes, at BRL 5,300/mt ($976/mt), still stable in BRL over the last six weeks, ex-works, no taxes included.
With recent indications that import taxes, increasing from currently 12 percent to 25 percent under the new system of quotas, will only apply during the fourth quarter of the year, the Brazilian producers are postponing the announcement of price increases, with the exception of CSN, which has announced a 7.5 percent increase for the price of all its products, effective from July 1.
In May, Brazil exported 26,800 mt of HRC, in average at $727/mt, and imported 60,100 mt at $596/mt, both FOB conditions.
USD = BRL 5.39 (June 25)