According to sources, slab prices to the US from Brazil have firmed up on tight supply.
Sources inform SteelOrbis that slab offers were being heard at $420-425/mt FOB Brazil the week ended March 17, but the range has widened to $420-430/mt FOB Brazil. The latest bids from the US through the week ended March 24 were heard at $415-420/mt FOB Brazil. Sources believe that as the market direction has become clearer in the last few days, deals should close at the $420-425/mt FOB level given the strong domestic expectations in the US steel market.