Slab producers are closing deals at $350/mt, FOB conditions, to export the product of the basic commercial grades, a market source told SteelOrbis.
He mentioned that the reduction is following the decline of prices in the Chinese market, but at a slower pace.
The price of Brazilian slab was recovering from $230/mt FOB in December 2015, until a peak of $400/mt FOB was reached earlier in May, having declined since then to $370/mt FOB last week.
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.
Brazilian exports of slab in May were the highest in volume during 2016, reflecting the reduced domestic demand for flat steel products due to producers searching for alternative markets along with a devaluation of the local currency, which improved the profitability of its exports in BRL terms.