Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
The current Brazilian hot coil SM400C steel prices have remained stable compared to last week, and most traders are generally in a cautious wait-and-see state due to the government's upcoming import quotas. Recently, the Brazilian government announced that import quotas will be set for 11 types of steel products, and a 25% tariff will be imposed if the quota is exceeded. This measure will be implemented for 12 months. At present, the import tariffs on these products range from 9% to 12.6%. The Brazilian government hopes that this will help reduce idle production capacity in the local steel SM400C steel manufacturing industry. Regarding this statement, Aco Brasil expressed its desire to change the quota from annual to quarterly, and has not received any response yet.
As far as we know, the current factory price of Brazilian hot coils is around $803 per ton, and the overall market transaction price is around $783-822 per ton. The price of rebar decreased by about 9 US dollars/ton month on month due to sustained sluggish market demand. The current factory price of Brazilian SM400C steel rebar is about 744 US dollars per ton, and the market transaction price is around 725-764 US dollars per ton. The price of slab has dropped by about $10/ton compared to last week. Currently, the price of Brazilian slab is around $590-610/ton, and traders mainly quote around $600-605/ton. However, there have been no reports of any transactions, and Mysteel will continue to monitor the market situation.
