Sources mentioned that ongoing negotiations for Brazilian slab exports have not yet resulted in deals being closed for shipment in September.
One source linked to an exporter mentioned that the company has decided to suspend its participation in export negotiations, as its availability of material for the period was all dedicated to the domestic market.
Offers remain at $750/mt, FOB conditions to the US, and $700/mt to other destinations, but even exporters agree that that there is a gap in such prices of more than $50/mt in relation to market prices.
As previously informed by SteelOrbis, reduced slab production is behind the low interest for exports, with reduced production pace at Tubarão and idled blast furnaces at Usiminas.
In July, Brazil exported 533,100 mt of slab, against 517,200 mt in June. Ternium exported in July 226,100 mt of slab at $1,004/mt to the US and 27,500 mt at $852/mt to Argentina, while Pecem exported 78,200 mt at $1,256/mt to the US and 70,200 mt at $950/mt to Mexico, and ArcelorMittal Tubarão exported 100,600 mt at $977/mt to the US and 30,300 mt at $902/mt to Canada. Such price deals were probably negotiated in May.