A source in Brazil told SteelOrbis that a slab export deal with a client in the US was closed at $980/mt, FOB conditions, setting a new reference price after a $950/mt deal under the same conditions was closed earlier this week.
According to sources, unconfirmed reports indicate that a deal for the supply in the Brazilian domestic market was closed at the same price, possibly setting a new and higher reference price for such deals.
Demand for slab remains solid not only in the US and Brazil, but also in Europe, sources say, with expectations for even higher prices, in line with HRC current record prices in these markets.
The negotiations for the supply of slab in August are expected to start next week.