Brazilian slab exports to the US East coast are now negotiated in a range of $795/mt to $798/mt, against a range of $742/mt to $748/mt two weeks ago, while to the US West coast the range now is $800/mt to $805/mt, against a range of $750/mt to $755/mt two weeks ago. Such quotations are CFR conditions for the basic commercial grades. Shipments from current negotiations are scheduled for March and April 2021.
Local sources mentioned that slab exports from Brazil are now limited to the US, Canada and to the Brazilian domestic market, as Usiminas, CSN and Aperam are outsourcing part of their slab demand, in a move reflecting a booming demand for steel products locally.
A scenario of increased demand from all world regions persists, with production of slab not sufficient to fulfill demand in the short term.
Preliminary numbers from customs remain pointing to an increase in December from the 321,400 mt of slab exported from Brazil in November.