Brazilian slab producers remain negotiating exports to the US in a range of $585/mt to $595/mt, FOB conditions for the product of the basic commercial grades, the same reference as last week, a market source told SteelOrbis.
The source mentioned that a range of $555/mt to $560/mt, under the same conditions, is the new reference price for the current negotiations with European clients, against $550/mt last week.
The source added that slab exporters are negotiating with clients in Europe for supply in September and onwards, when the Section 232 “tax-free” quota for US buyers has been exhausted, and Brazilian slab exports to other destinations are expected to increase.
Preliminary indications from Brazilian customs authorities point to a stable volume of slab exported in July compared to the 741,500 mt exported in June, which was the highest monthly volume since October 2017.