On July 24, SteelOribs reported ex-Brazil billet offers to the US and other countries at $415-420/mt FOB Brazilian port.
According to sources, ex-Brazil billet offers to the US are presently at $510-520/mt FOB Brazilian port. This represents an increase of $95/mt from the bottom of the previous range and $100/mt from the top of the previous range. The increase is attributed to strong global upswing on steel goods, continued demand despite higher prices, and rising global raw material costs. Deals from Brazil to various destinations including the US were heard inching up from $465-475/mt FOB two weeks ago to deals heard at $500-510/mt FOB most recently.