Brazilian exports of carbon steel products jump 84.3% YOY in 2015

BRASÍLIA: Brazilian exports of carbon steel sheet products jumped 84.3% year on year in 2015 to 2.65 million mt from 1.44 million mt in 2014, according to data released by the foreign trade ministry, MDIC, on Friday.

Exports of hot-rolled steel goods totaled 2.04 million mt, up 80% from 1.13 million mt year on year. Cold-rolled coil exports totaled 260,772 mt, some 48.4% above the 175,725 mt sent overseas in 2014. Hot-dipped galvanized exports reached 346,545 mt, up 171.7% from 127,527 mt a year earlier.

The exports of HRC were valued at $844.11 million FOB, while the volumes of CRC were valued at $145.55 million FOB and HDG at $219.76 million FOB, for a total of $1.21 billion FOB. Overall, exports in 2014 were valued at $881.69 million FOB. In December alone, exports of flat products totaled 220,792 mt, down 9% from 242,753 mt in December 2014.

December saw 174,876 mt of HRC shipped overseas, 3% below the 180,289 mt registered a year before. CRC exports totaled 6,716 mt, or 79.3% below the 32,537 mt exported in December 2014. Exports of HDG in the most recent month reached 39,201 mt, up 31% from 29,927 mt a year ago.

Dairy Today

After the winter storm Goliath that killed more than 30,000 cows last week, there shall be an expected shortage of milk as a result of which there will be a slight upward trend in price of Dairy Commodities. Let’s wait for tomorrow’s dairy auction to validate our statement.

Moving to a Polymer Bank Note

Following a three year research programme and a public consultation, the Bank of England has finally decided that its next £5 (featuring Sir Winston Churchill) will be printed on polymers such as Biaxially oriented Polypropylene (BOPP) in the second half of 2016 and £10 (featuring Jane Austen) banknotes next year.

The Bank’s research papers have shown considerable benefits in polymer banknotes, they are cleaner, more secure, and more durable than paper banknotes. They will provide enhanced counterfeit resilience, and increase the quality of banknotes in circulation. Polymer notes are also more environmentally friendly than paper and, because they last longer are, over time, cheaper than paper banknotes.

The new notes will be smaller (by around 15%).

Door Of Russians To Be Opened For Pakistan’s Textile Industry

Russia has imposed economic sanctions on some countries, and exporters in Pakistan should utilize this opportunity to supply more products to Russian markets, said Yury M Kozlov, trade representative of the Russian Federation while addressing businessmen at Faisalabad Chamber of Commerce and Industry (FCCI) recently, as per Pakistani media reports.

Kozlov said that after the signing of the $2 billion gas pipeline project from Karachi to Lahore, over 50 Russian companies are looking for opportunities to invest in Pakistan. He added that Pakistan and Russia were making positive efforts to strengthen bilateral trade relations between the two countries.

Chaudhry Muhammad Nawaz, president, FCCI, said that there are high prospects of joint ventures between both the countries in the field of textiles, leather goods, live stock industry, oil and gas, agro-based industry, information technology, and tourism. Nawaz also said Pakistan can supply textile products like home textiles, readymade garments, and hosiery items to the Russian markets.

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