Russia continues to provide an alternative outlet for some Brazilian exporters seeking to place volumes displaced from China.
According to market operators, bids during the past week ranged between US$/t 5,900 and 6,150 CFR for chuck & blade and between US$/t 6,700 and 7,000 CFR for round cuts.
While the Russian market is far from capable of absorbing the volumes traditionally purchased by China, these transactions help move specific cuts and partially ease commercial pressure on some Brazilian plants.
“Freight and operating costs in Russia are challenging,” a Brazilian processor noted.
