Brazilian export slab offers are being negotiated to buyers in Asia in a price range of $345/mt to $355/mt, against $360/mt to $370/mt last week, FOB conditions for the basic commercial grades. Sources tell SteelOrbis that the reduction reflects competition from other origins.
For exports to Europe, negotiations remain in a range of $345/mt to $355/mt FOB, stable from last week, but the demand from the region remains weak and no fresh deals were closed over the week, with at least two offers lost from lower quotations from Russia. For countries in the EU, freight rates are estimated at $20/mt, while for sales to Turkey freight rates are estimated at $25/mt.
Export slab offers to the US remain in the range of $365/mt to $375/mt FOB, 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.