A major slab producer in Brazil is buying niobium ferroalloys from CBMM at $19,340/mt, CFR full taxes, an industry source told SteelOrbis.
The price compares to $23,170/mt paid in October 2014 and reportedly reflects the reduced domestic demand for the product, for its turn reflecting the reduced steel production in the country.
The world’s largest producer of niobium ferroalloys, Brazil exported 71,200mt of the product in 2014, 12 percent more than in 2013, at an average FOB price 3 percent lower, $24,354/mt.
Exports by CBMM went up by 13 percent to 64,000 mt, while exports by the local arm of Anglo American went up by 2 percent to 7,200 mt.
In December, the country’s exports of the product went down from November by 17 percent to 5,400, at a price 2.5 percent lower, $22,941/mt.