[SMM Steel] Major Customer Bankruptcy Triggers Spot Liquidation; Brazilian HDG Prices Pressure Downward

Published: Jul 24, 2026 13:52

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[Brazil] Domestic hot-dip galvanized steel prices in Brazil came under downward pressure this week. The decline was primarily driven by a key client of a major local mill filing for bankruptcy liquidation, creating receivables risks that prompted the steelmaker to liquidate inventory at discounted spot prices to accelerate cash recovery. However, backed by robust automotive demand, quotes from other mainstream mills held firm. Hot-rolled coil prices stabilized at 750–760 USD/tonne EXW, as high interest rates and tight credit conditions continued to suppress downstream purchasing sentiment. In the slab market, steelmakers prioritized internal consumption for September shipments, keeping export offers steady at 580-585 USD/tonne FOB.

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