Sources tell SteelOrbis that slab exports to Europe were recently closed at more than $1,100/mt, FOB conditions, against deals closed at $1,000/mt one week ago.
A sale at $1,200/mt, FOB conditions, was closed with a plate mill in Europe, while one of the slab producers had to refuse a similar sale due to the lack of availability of material for shipment in May, having to postpone it to June.
So far, no deals were reportedly closed recently with clients in the US, but the first of such deals is expected to be concluded over the next few days, with prices similar to those applied to clients in Europe.
Slab sales in the Brazilian domestic market are reportedly being closed at the equivalent to $1,000/mt, ex-works, no taxes included.
With the temporary absence of Russia and Ukraine from the merchant slab market, the price of Brazilian slab is expected to show strong volatility in the short term, reflecting the developments of the war in the region.
Preliminary indications are pointing to an increase in March from the 468,000 mt of slab exported from Brazil in February.
