A Brazilian slab producer told SteelOrbis that the company is considering slab export offers to the US for June shipment at $914/mt to the East coast, and at $931/mt to the West coast, CFR conditions.
Last week, another producer had mentioned prices of $849/mt and $866/mt, respectively, under the same conditions.
According to sources, increased price levels reflect the shortage of the product in the merchant slab market, due to production problems with at least one major producer and increased demand from Mexico for the new Pesqueria rolling mill.
In March, Brazil exported 726,600 mt of slab, one of the largest monthly volumes in recent years.
The US was the main destination, with 626,500 mt at $747/mt, followed by Canada (63,400 mt at $516/mt) and Argentina (32,800 mt at $756/mt), all FOB conditions, while a small volume was shipped by Gerdau to China.
The exporters were Ternium (294,700 at $747/mt), ArcelorMittal (243,000 mt at $587/mt), and Pecem (185,000 mt at $701/mt), all FOB conditions.
Meanwhile, Usiminas imported in March 63,600 mt of slab at $500/mt from Russia, also FOB conditions.