Brazil's hot-rolled coil market experienced significant volatility in July, with HRC exports declining sharply to 5,900 metric tons compared to 21,100 mt in June, while imports surged to 52,300 mt from 16,200 mt in the previous month, according to SteelOrbis. Market analysts attribute the dramatic month-on-month shifts to expectations that antidumping duties may be imposed on HRC imports. The measures have reportedly been postponed until October and may extend to origins beyond China, creating uncertainty in the market.
Brazilian HRC exports remained focused on South American destinations. ArcelorMittal led the shipments with 2,900 mt at $658/mt (FOB), followed by Gerdau with 2,400 mt at $514/mt (FOB), and Usiminas contributing 600 mt at $759/mt (FOB). On the import side, Egypt emerged as the largest supplier with 26,000 mt at $575/mt (FOB), while Vietnam supplied 14,400 mt at $498/mt (FOB).
South Korea shipped 8,200 mt at $479/mt (FOB), and China provided 3,700 mt at $417/mt (FOB), all on FOB terms. The anticipation of antidumping measures appears to be reshaping import patterns, with traders potentially front-loading purchases ahead of potential duty implementation. The postponement of the measures until October suggests the trade dynamics may continue to be influenced by policy uncertainty in the coming months.
Source: steelorbis.com