Exports of slabs by Brazilian producers reached 545,200 mt in September, 65 percent more than in August, according to the country’s minister of development, industry and foreign trade, MDIC.
The average FOB export price in September was $495/mt, 2.6 percent lower than the previous month, pointing to different prices by each exporter: stable for the 227,000 mt exported by ThyssenKrupp CSA at $508/mt, down by 10.5 percent for the 278,600 mt exported by ArcelorMittal Tubarao at $482/mt, and up by 4.1 percent for the 39,600 mt exported by Gerdau Acominas at $514/mt.
A major exporter told SteelOrbis that the last negotiations for slabs exports remain closed in the $500/mt range FOB for the base commercial grades, roughly the same figure over the last three months.
The main destinations of the exports in September were the US, up 50 percent to 366,500 mt, Asia, up 96 percent to 96,700 mt, and Europe, 82,000 mt versus no exports in August.
The sharp increase of the tonnage exported reflects the availability of volumes due to the reduced domestic demand for steel products, for its turn reflecting a lackluster performance of the local economy.