At least one Brazilian slab producer has concluded the last export deals for shipment in July, local sources told SteelOrbis.
According to the source, the last deals were closed in a range of $690/mt to $720/mt, FOB conditions, maintaining a downtrend in prices during the last two weeks.
Brazilian exporters offered slabs at $820/mt FOB for July shipment after having concluded the sales for shipments in June at $845/mt FOB. However, the first sales for shipment in July were then closed at $815/mt, while the subsequent sales were closed at $750/mt and $735/mt last week, all FOB conditions.
Negotiations for shipments in August are expected to start next week, with offers in the range of $690/mt to $720/mt, FOB conditions.
The declining prices are still attributed to the small margin between slab and HRC prices, along with an increasing volume of slab available for exports in Brazil.