Brazilian slabs exports during March slumped 63 percent from 749,200 metric tons (mt) reported a month earlier to a March total of 297,600 mt, according to data released today by Secex, the foreign trade secretariat of the ministry of development, industry and foreign trade.
Secex data shows exports to the US dropped from 536,900 mt during February to 238,800 mt for all of March, noting that ArcelorMittal did not export to the US in March, compared with a total of 249,100 mt reported for February.
Sources linked to exporters told SteelOrbis that local slab production was diverted to the domestic market, mostly to supply the increased rolling activities of CSN and of the Usiminas. They added that some export volumes would be postponed to April, so the total volume should be higher than March at the end of the month.
In March, Ternium exported 238,800 mt of slabs to the US at $594/mt FOB conditions, while ArcelorMittal Tubarão exported 31,700 mt at $473/mt to France, and 27,100 mt at $477/mt to Germany, both FOB conditions.
Meanwhile, Usiminas imported 19,800 mt of slabs at $468/mt from Vietnam, also FOB conditions, Secex said.
