Reportedly, Brazil’s export prices of hot rolled coils (HRC) have stayed in downward trend recently.

It’s learned that the HRC transaction prices for October deliveries were at US$612/ton FOB, mainly for Latin American countries and India.

Industry sources said that buyers are unwilling to purchase with prices more than US$605/ton as Brazil’s export prices are much higher than the prices offered by Asian steelmakers.

According to statistics released by the Brazilian Steel Institute (IABr), Brazil exported 57,000 tons of HRC in August, soaring by 19% from a month earlier. The average export prices were at US$633/ton FOB, falling by 8% from a month ago.