According to sources, the most recent Brazilian slab export deals were closed at $530/mt, FOB conditions for the basic commercial grades, still for shipments in December. The price compares to $520/mt FOB for deals closed last week.
Brazilian slab exporters are reportedly benefiting from higher HRC prices in the US, coupled with reduced availability of slab for export, due to the longer than expected stoppage for revamping of the blast furnace No. 3 of Usiminas at its Ipatinga plant.
Preliminary numbers from customs remain pointing to slab exports from Brazil exceeding in October the 497,100 mt exported in September, while slab imports by the country are also expected to increase in October, from the 21,700 mt imported in September.