Turkey imported 86,900 mt of slabs from Brazil in May, of which 56,300 mt was from ThyssenKrupp CSA at $297/mt and 30,600 mt was from ArcelorMittal Tubarao at $359/mt, FOB conditions, price deals probably closed in March.
Total exports of slab from Brazil in May increased from April by 42 percent to 504,600 mt, of which 233,500 mt by Tubarao at $270/mt, 222,000 mt by ThyssenKrupp CSA at $283/mt and 49,100 mt by Gerdau Acominas at $236/mt, all FOB conditions.
Destinations other than Turkey were the US (147,800 mt), the EU (117,800 mt), Indonesia (80,000 mt), Mexico (49,100 mt) and Canada (20,000 mt).
The volume of slab exported from Brazil in May, the highest so far in 2016, reflects not only steel producers searching for alternative clients due to the reduced domestic demand, but also increased steel prices and the devaluation of the domestic currency, increasing the profitability of slab exports in BRL terms.
A major exporter told SteelOrbis that $370/mt FOB has remained as the price for negotiations of slab of the basic commercial grades for two weeks, following a price recovery from $230/mt in December 2015, until a peak of $400/mt was reached last month, both FOB conditions.