Compared to late April when SteelOrbis reported billet export prices at $395-400/mt FOB Brazilian port, deal prices through the end of May trended sideways while actively traded offers fell in the wider range of $395-415/mt FOB Brazilian port in late May.
According to a source, while trading has been limited due to global market uncertainty and recent domestic political turmoil, traders have widened the price range due to expectations of additional export placements in third quarter negotiations and some economic recovery in the second half of the year.