Next week, Brazilian slab producers will start negotiations for exports to the US with offers at $530/mt, FOB conditions for the basic commercial grades, a local market source told SteelOrbis.
Such negotiations will refer to shipments to be made during December, with volumes set to arrive at the US ports in January 2019, clearing customs with tax exemption under the US Section 232 quota agreement.
According to the source, such price will also apply to non-US destinations, comparable with a range of $495/mt to $505/mt seen over the last few weeks for exports to Europe, ending the previous policy of different pricing according to destination.
In September, Ternium Brazil exported 222,200 mt of slab at $608/mt, ArcelorMittal exported 190,200 mt at $605/mt, and Siderurgica do Pecem exported 96,100 mt at $580/mt, all FOB conditions with price deals probably closed in July, having the US as main destination (449,000 mt at $607/mt FOB).