According to sources, Brazilian slab exporters have closed the last deals for shipments in September at $570/mt, FOB conditions for the basic commercial grades.
The new reference price compares to $595/mt FOB one week ago, in a decline reflecting unstable HRC prices in the US, according to sources.
Next week, slab exporters are expected to start negotiations for shipments in October, with offers expected to be in the range of $570/mt, FOB conditions.
In July, Brazil exported 463,700 mt and imported 82,800 mt of slab, against respectively 790,400 mt and 36,500 mt in June.
In July, Ternium exported 146,400 mt of slab at $837/mt to the US and 28,600 mt at $687/mt to Argentina, ArcelorMittal Tubarão exported 101,800 mt at $681/mt to the US and 81,900 mt at $727/mt to Belgium, and ArcelorMittal Pecem exported 64,100 mt at $740/mt to the US and 40,900 mt at $713/mt to Germany, all FOB conditions.
Meanwhile Usiminas imported 47,000 mt of slab at $683/mt from Vietnam and 35,800 mt at $734/mt from China, also FOB conditions.