A market source in Brazil told SteelOrbis that exports of slab to the US for the period August onwards were concluded and the next round of negotiations will start in September, for the supply in late 2019 and early 2020.
The source said that with a renewed focus on the EU and Latin America, Brazilian export slab prices are now in a range of $460/mt to $480/mt, FOB conditions for the basic commercial grades, compared to last-heard prices of $530/mt FOB when the focus was on the US.
In May, Brazil exported 537,500 mt of slab, roughly the same volume exported in April. The US was the main destination 343,000 mt at $529/mt), followed by Mexico (100,100 mt at $447/mt), Spain (50,300 mt at $523/mt), the Czech Republic (26,000 mt), and Canada (18,100 mt at $583/mt), all FOB conditions, with price deals probably closed in March for different quality grades. The exporters were Ternium (232,200 mt), Pecem (192,500 mt) and ArcelorMittal Tubarao (112,800 mt).