Brazilian finished steel imports saw a drop in freight rates in May, according to data released by COMEX, the country's foreign trade authority. The average freight cost for steel imports in May was $54/mt, down from $60/mt in April.
Imports from China made up 72% of total Brazilian finished steel imports in May, slightly down from 73% in April, maintaining China’s position as the dominant supplier.
Here’s a breakdown of average freight rates by product and origin, based on March data (latest detailed breakdown available):
-
Hot-Rolled Coil (HRC):
$47/mt from China, $57/mt from South Korea, and $24/mt from Egypt. -
Cold-Rolled Coil (CRC):
$46/mt from China, $67/mt from South Korea. -
Coated Flat Products:
$51/mt from China, $65/mt from Vietnam, $162/mt from South Korea, and $12/mt from Germany. -
Wire Rod:
$52/mt from China, $28/mt from Egypt, and $48/mt from Russia. -
Rebars:
$30/mt from Egypt, $65/mt from China, $116/mt from South Korea, $61/mt from Italy, and $41/mt from Russia.
The decline in freight rates reflects improving logistics conditions and a slight shift in sourcing dynamics, although China continues to dominate Brazil’s steel import market.
VietnamSteel by Hoa Sen Group
