Brazilian producers are negotiating slab exports to Asian countries in a CFR price range of $435/mt to $445/mt, comparable to $445/mt to $450/mt CFR two weeks ago, sources told SteelOrbis. Freight rates to the region remain stable in a range of $40/mt to $45/mt.
For exports to Europe, the CFR price range for negotiations is now $440/mt to $450/mt, roughly stable over two weeks, with freight rates also stable at $20/mt to $25/mt.
Negotiations for exports to the US remain suspended, with prospective buyers now expected to return to the market in late October or early November for exports under the Q1 2021 quota of US Section 232.
Preliminary indications by customs are pointing to a reduction in August from the 484,300 mt of slab exported from Brazil in July.
