A source from a major Brazilian steelmaker told SteelOrbis that CBMM is now selling niobium ferroalloys to its domestic clients in a range of $19,020/mt to $19,860/mt, CFR full taxes conditions, interrupting four months of stability in a price range of $20,400/mt to $21,300/mt.
The source mentioned that the new price range reflects a combination of factors including the reduced demand for steel products, chiefly the high grade, niobium containing steels.
He added that the devaluation of the BRL vis-à-vis the US dollar has also played a role in the price decline, as in his words “CBMM will ultimately receive the same amount in BRL for the same volume sold.”
During December, CBMM, the world’s largest niobium producer, exported its niobium ferroalloys at $20,809/mt, while the Brazilian arm of Anglo American exported the product at $23,329/mt, both FOB conditions.