Brazilian slab export offers are being negotiated to Asia in a price range of $345/mt to $355/mt, FOB conditions for the basic commercial grades, unchanged over the week.
For exports to Europe, offers are also stable in a FOB range of $345/mt to $355/mt, while to the US the range remains $365/mt to $375/mt, stable from last week, equivalent to $375/mt to $390/mt CFR to the US East coast and $385/mt to $395/mt CFR to the US West coast.
In May, Brazil exported 523,000 mt of slab, against 513,400 mt in April. The US was the main destination (396,400 mt at $405/mt), followed by China (76,300 mt at $320/mt) and Turkey (50,300 mt at $314/mt). The sales to the US are still included in the third quarter quota under US section 232.
The exporters were Ternium (221,500 mt at $406/mt), Pecem (197,900 mt at $353/mt) and ArcelorMittal Tubarao (103,600 mt at $394/mt), while a small volume was shipped by Usiminas. Such price deals were probably closed in March.