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Brazil’s steel prices remain high in spite of real’s depreciation

It’s reported that Brazil’s exports of steel long products were not boosted by the depreciated Brazilian real due to high input costs.

In fact, the depreciated Brazilian real should help the country’s exports but the Brazilian steel mills still lose its competitiveness in the global market due to high taxes, input costs and labor wages.

According to data, the country’s exports of steel long products totaled 40,127 tons in October, slumping by 33.5% YoY. The export values slumped by 36.5% year on year to USD 28.10 million FOB.

Source – yieh

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