Brazilian domestic steel prices were unchanged in the last month of 2018 and through the first days of 2019, with stronger foreign exchange rates in the country mitigated by the Chinese price downtrend easing somewhat.
On the flat steel side, the market was steady in the first days of the year, with no price readjustments compared with the previous month. But small discounts to large-volume purchases were still being heard in the market."The market is waiting to see which direction Chinese prices will take," a local distributor said.Fastmarkets' monthly assessment of Brazilian domestic hot-rolled coil was stable at 2,600-2,700 Reais ($689-715) per tonne ex-works on Friday January 4. Meanwhile, cold-rolled coil remained at 2,850-2,920 Reais ($755-774) and hot-dipped galvanized coil stood at 3,250-3,310 Reais ($699-726)...