A source linked to a major Brazilian exporter told SteelOrbis that $330/mt, FOB conditions, is the new parameter for the negotiation of the price for exports of slab of the basic commercial grades.
Such price compares with $320/mt FOB 10 days ago and is the new peak for the upward trend started at $230/mt FOB in December 2015.
According to the source, the higher price reflects not only the increased international steel prices, but also the reduced availability of slab in Brazil, due to low domestic production.
In March, Brazil exported 409,800 mt of slab, 22 percent more than in February and the highest volume in the year.
In March, Brazil exported 409,800 mt of slab, 22 percent more than in February and the highest volume in the year.
The main exporters were ThyssenKrupp CSA (215,700 mt at $246/mt), ArcelorMittal Tubarao (137,400 mt at $240/mt) and Gerdau Acominas (54,500 mt at $234/mt), all FOB conditions. The main destinations were the US (281,600 mt), South Korea (53,800 mt), Thailand (51,100 mt) and the EU (21,000 mt).
Price deals for the exports of March were probably closed in January.