In a downtrend since a peak of $400/mt in early May, Brazilian slab of the basic commercial grades is currently being traded for export at $340/mt, FOB conditions, a market source told SteelOrbis, adding that prices are likely to decline further before stabilization.
The price compares with $350/mt FOB last week, following a decline in steel prices in China, although at a slower pace, the source said.
The price of the Brazilian slab was recovering from $230/mt in December 2015, until the May peak of $400/mt was reached.
In May, ArcelorMittal Tubarao exported slab at $270/mt, ThyssenKrupp CSA at $283/mt and Gerdau Acominas at $236/mt, all FOB conditions at price deals probably closed in March.
Usiminas is not exporting slab, instead buying the product from ThyssenKrupp CSA after the closure of crude steel facilities at its Cubatao plant earlier this year.