The new reference price for the export of Brazilian slabs of the basic commercial grades is $380/mt, FOB conditions, a source linked to a local slab producer told SteelOrbis.
The new price compares to $400/mt earlier this month and is the first decline since the price of the product started a recovery path from $230/mt in December 2015, in line with increasing prices in the international markets.
According to the source, it is not possible to conclude that the price decline marks a different trend: “There is a high level of volatility in the market, covering the steel production chain, from iron ore to rolled products, so price trends are uncertain at this stage,” he said, adding that it is necessary to wait a few weeks to check the trend.
In April, ArcelorMittal Tubarao exported slabs at $235/mt, ThyssenKrupp CSA at $249/mt and Gerdau Acominas at $234/mt, all FOB conditions, with price deals probably closed in February.