Brazilian slab producers are 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 for two weeks, a local market source told SteelOrbis.
The source mentioned that a range of $555/mt to $560/mt, under the same conditions, remains stable over the week for European clients.
According to the source, slab exporters in Brazil are maintaining the two different approaches to the US and European markets: preference to the higher prices in the US, under the “tax-free” section 232 quota, while sales to Europe are covering September onwards, when such quota is exhausted.
Figures unveiled over the last week have reportedly frustrated positive expectations from customs authorities for slab exports in July, which are now expected to decrease from the 741,500 mt exported in June.
