Brazil exported 457,900 mt of slabs in June, 9.3 percent less than in May, according to the ministry of development, industry and foreign trade, MDIC.
The average export price, with deals probably closed in April, has reached $298/mt, FOB conditions, against $273/mt in May, with ArcelorMittal Tubarao exporting 213,200 mt at $301/mt, ThyssenKrupp CSA 150,400 mt at $318/mt and Gerdau Acominas 94,300 mt at $259/mt, all FOB conditions.
The main destination was the US (289,400 mt at $302/mt), followed by Asia (66,200 mt at $286/mt), the EU (48,300 mt at $291/mt), Turkey (39,800 mt at $269/mt) and Canada (14,100 mt at $380/mt), all FOB conditions.
A local market source told SteelOrbis that the most recent export deals for slab of the basic commercial grades were closed at $320/mt, FOB conditions, comparable to $330/mt last week, in a downward trend since $400/mt FOB was achieved in early May.
A second source, linked to an exporter, mentioned that prices could go further down, but not in a large extent: “It is not possible to return to the levels of December 2015, $230/mt FOB, as current production costs are not compatible with such level,” the source added.