Brazilian flat steel imports hit record high

Brazilian imports of flat rolled steel increased significantly during the month of May this year. According to the latest figures released by the Brazilian customs authorities, the country's imports of sheet steel rose by almost 143 percent over the previous year.

Imports of cold rolled coils (CRC) soared to 89,377 tonnes in May this year, up from a total imports of 10,076 tonnes in the same month last year. On the other hand, imports of hot rolled coils (HRC) in May of this year fell by almost 9 percent year on year to 18,670 tons, up from 20,478 tons in May last year.

Brazil's imports of flat products in May 2014 reached 225,469 tonnes, up 142.85 percent from imports in the same month a year earlier, when they totaled 92,841 tonnes. In addition, imports in May were the highest for the current year.

China was the largest supplier of flat products to Brazil. China's imports of sheet steel reached 161,703 tons in May, accounting for over 70 percent of the country's total imports. In May 2014, imports from China grew more than six times compared to imports in the corresponding period last year, when they totaled 26,745 tons.