A source from a Brazilian exporter told SteelOrbis that he is negotiating slab for export to the US in a price range of $560/mt to $570/mt, FOB conditions, against a range of $580/mt to $590/mt last week.
He added that negotiations for exports to Europe are now in a range of $510/mt to $520/mt, comparable with $550/mt to $560/mt last week, also FOB conditions.
The source mentioned that such prices are not taking into consideration the recent decision by US authorities to offer exclusions to Section 232 quotas for Brazil, Argentina and South Korea. Sources say after a short period of uncertainty, a new range of prices will arise, probably higher than today’s levels but not by a large extent.