Foreign trade authority COMEX has announced sea freight rates for certain products for the month of May.
In the given month, for a slab freight rate from Russia to Rio de Janeiro, the freight rate was $57/mt, while for São Paulo it was $70/mt.
For HRC shipments from China, the rate was $59/mt to the north of Brazil, $69/mt to the south, and $58/mt to the northeast.
Fror HRC shipments from South Korea, the rate was $128/mt to the southeast, while for shipments from Vietnam to the south of Brazil it was $68/mt.
For CRC shipments from China, the rate was $38/mt to the northeast, $34/mt to the south and $33/mt to the southeast.
For CRC shipments from South Korea, the sea freight rate was $92/mt to the southeast.
For CRC shipments from Europe, the freight rate was $45/mt to the south and $27/mt to the north.
For shipments of rebars from Egypt, the sea freight rate to the south was $34/mt, while from Peru to the south it was $40/mt.
As expected, the higher the volume, the lower the freight rate, for the benefit of the Chinese exporters, which in May have shipped the vast majority of the finished steel products imported by Brazil.
Such rates were probably negotiated two months ago.