The import price of Cold-Rolled Coil (CRC) in Brazil has fallen, with the average price now at $680/mt (CFR conditions), down from $710/mt two weeks ago, according to market sources.
On the domestic front, Brazilian producers are offering CRC of basic commercial grades in medium to large volumes at BRL 6,180/mt ($1,062/mt), down from BRL 6,300/mt two weeks ago, ex-works, excluding IPI taxes.
According to Brazil's foreign trade authority SECEX, Brazil's CRC imports rose to 34,300 mt in February, up from 31,100 mt in January, while exports increased to 16,200 mt from 2,800 mt in the same period.
Notable exports in February included CSN, which shipped 13,200 mt of CRC to the US at $876/mt, Usiminas exporting 2,200 mt to South American countries at $1,090/mt, and ArcelorMittal, which sent 800 mt at $750/mt to South America.
In terms of imports, China accounted for the largest share, supplying 27,500 mt of CRC at $594/mt, followed by South Korea with 6,400 mt at $704/mt, Sweden at 300 mt at $727/mt, and Portugal at 100 mt at $856/mt, all on FOB conditions.
As of March 12, the exchange rate stands at USD = BRL 5.82.
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