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Brazilian billet export prices showing signs of recovery - 21 March 2012

After dipping slightly in the previous month, export prices for Brazilian billets increased by around US$20-30/tonne for April shipments.

"Finally, demand seems to be picking up, but is still below expectations," says one trader based in São Paulo, adding that despite the recovery, trading activity is not as "heated" as normal for this time of year.

Offer prices for Brazilian billets to Thailand are presently US$590-600/t fob, versus US$560-570/t in February. In addition: "An 8,000 t cargo is being negotiated with Taiwan at US$605/t fob," another trader discloses. He adds that bookings for neighboring countries like Argentina closed at US$568/t fob.

In February, a total of 62,020 t of billets were exported from Brazil, up 36% on the 45,540 t in January, but 20% less than the 77,387 t in the same month of 2011.


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