On August 18, SteelOrbis reported a slab negotiation reference price of $440/mt FOB Brazilian port for the basic commercial grade with expectations of upticks in the near future.
According to sources, ex-Brazil slab offers to Southeast Asian destinations are being heard at $455-460/mt FOB. Offers are $15-20/mt higher in comparison to the previously reported FOB reference price. With ocean freight charges of $25-30/mt to the region, this translates to approximately $480-490/mt CFR on a sizable shipment of 20,000 mt or more.