Brazilian producers are negotiating slab exports to the US in a price range of $510/mt to $520/mt FOB, against $520/mt to $530/mt last week, considering the basic commercial grades, a local market source told SteelOrbis.
The source mentioned that sales for shipment in December have just been concluded, adding that negotiations for orders to be shipped in January 2019 will start next week.
According to the source, the US will remain as the main target for the Brazilian slab, but deals will soon also include sales to Europe, Asia and to the Brazilian domestic market, as one of the blast furnaces of a local integrated producer will stop for maintenance early next year.
In October, Brazil exported 883,800 mt of slab, against 508,600 mt in September. Ternium Brazil exported 431,400 mt at $582/mt, Companhia Siderurgica do Pecem exported 310,600 mt at $572/mt, and ArcelorMittal Tubarao exported 141,800 mt at $590/mt, all FOB conditions.
The US was the main destination (705,300 mt), followed by Canada (52,400 mt), Mexico (35,500 mt) and the UK (30,900 mt), while smaller tonnages were shipped to the Czech Republic, the Netherlands and South Korea.