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Brazilian flats export prices climb on positive sentiment - 27 February 2012

Recent hikes in international flat product prices coupled with growing demand has encouraged Brazilian steelmakers to lift export offers by about US$30-50/tonne, Steel Business Briefing learns from market participants. "Most orders are being closed with buyers in South and North America, while customers in Europe are not absorbing such levels," one steel trader says. Cargoes of hotrolled coils (commercial grade) have been negotiated from Brazil at US$720-730/tonne cfr to other South American countries, up from around US$680/t cfr on previous offers, say market sources. Similarly, coldrolled coils have shipped at US$820-830/t cfr versus US$770-790/t cfr, while hot-dip galvanized coils traded at US$900-910/t cfr, compared to the previous average of US$850/t cfr. SBB learns that freight rates for flats shipments from Brazil to other South American countries are stable at US$40/t. Last month, Brazilian flats exports fell 42.2% month-on-month, according to foreign trade bureau Secex. Data show 104,100 t of flat products were exported in January – well below the 180,100 t exported in December 2011 and 68.4% less than the year-ago period.

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