Brazilian producers are offering slab to their clients in the US at $982/mt to the East coast and at $998/mt to the West coast, CFR conditions, for shipments in July, a local source told SteelOrbis.
The prices compare to $962/mt and $978/mt, respectively, last week under the same conditions, reflecting an uptrend of prices along the whole steel production chain, from raw materials to rolled products.
A second source mentioned that one slab producer is offering the product to their US clients at $950/mt, FOB conditions, $20/mt more than previous considerations for shipments in July.
A scenario persists of increased demand in the merchant slab market, coupled with a shortage of slab due to production problems in slab producers in different world regions.
In April, Brazil exported 562,800 mt of slab, against 726,600 mt in March. Ternium exported 230,600 mt to the US at $764/mt and 31,200 mt to Argentina at $770/mt, while Pecem exported 150,600 mt to the US at $720/mt and 17,600 mt to Canada at $784/mt, and ArcelorMittal exported 66,200 mt at $790/mt to the US and 66,600 mt at $779/mt to Canada, all FOB conditions.
Meanwhile, Usiminas imported in April 31,600 mt of slab from Russia at $593/mt, also FOB conditions.