The last deals for exports of slabs from Brazil remain at $500/mt, FOB port terms, the same as earlier this month, a major producer told SteelOrbis.
The quotation, which refers to the base commercial grades, is nonetheless reduced from the average of $525/mt FOB exported in July, whose prices were negotiated during May.
According to the source, the price is set for further reduction, as the local producers are forced to increase exports in order to compensate for the reduced domestic demand of flat steel products, chiefly due to the lackluster demand from the local auto industry.