[SMM Steel] Brazilian Flat Steel Imports Chill; Vietnamese Price Cuts Struggle Against Egypt's Competitive Edge

Published: Jul 9, 2026 16:24

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[Brazil] Brazil’s flat steel market remains deeply suppressed by weak domestic demand, a high-interest-rate environment, and political uncertainty ahead of the presidential election. This week, Vietnamese hot-rolled coil (HRC) export offers to Brazil were lowered by 30 USD/tonne to 605-615 USD/tonne CFR. However, faced with the pricing advantage of Egyptian steel—which benefits from a bilateral tariff-free agreement—Vietnamese and Indian resources are facing severe market entry pressure. Under the double burden of high domestic inventory and the influx of duty-free material, import transactions remain thin, and prices are expected to face further downward pressure in the near term.

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