Brazilian producers are still exporting slabs of the basic commercial grade at $320/mt, FOB conditions, two local exporters told SteelOrbis.
One of the sources mentioned that the price seems to have reached a level of stability, reflecting the balance of different factors, such as increased worldwide demand, compensated by increased production by a new plant in Brazil, Companhia Siderurgica do Pecem (CSP), coupled to perspectives for the restart of operations of a blast furnace at CSN.
FOB prices reached a peak of $400/mt in early May, decreased to $330/mt in early July and varied between $330/mt and $320/mt until stabilization at $320/mt was reached four weeks ago.
A second source mentioned that exports by CSP are commanding a FOB price slightly higher, benefiting from a location in northeast Brazil, closer to the US and European markets.
In July, ArcelorMittal Tubarao exported its slabs at $369/mt, ThyssenKrupp CSA at $349/mt and Gerdau Acominas at $326/mt, FOB conditions, with price deals probably closed in May.