Brazilian slab producers are negotiating exports to the US in a range of $595/mt to $600/mt, FOB conditions for the product of the basic commercial grades, a price stable from last week, a market source told SteelOrbis, adding that the market maintains expectations for higher prices in the short term.
According to the source, Brazilian producers can close slab export deals to the US, free from the 25 percent import tariff, until September, for shipments in November, considering that the volume of the “tax-free” exports are limited to 80 percent of the volume exported in 2017.
In May, Companhia Siderurgica do Pecem exported 158,400 mt of slab at $516/mt, ArcelorMittal Tubarao exported 91,200 mt at $549/mt, and Ternium Brazil exported 61,400 mt at $548/mt, all FOB conditions with price deals probably closed in March.
Preliminary indications from local customs point to an increase in June from the 311,000 mt of slab exported from Brazil in May.
