Without reaching fresh slab export deals for shipment in September, Brazilian producers are now offering the product at $600/mt, FOB conditions. The new price compares to offers at $620/mt FOB one week ago.
According to sources, the offers at $620/mt were not accepted due to declining HRC prices in the US, which would result in low margins for rolling activities.
Although some of the last deals for shipment in August were closed at lower than $600/mt, exporters are not expecting to return to such levels again, despite being under pressure from their clients.
In June, Brazil exported 790,400 mt of slab, while imported 35,600 mt of the product. Preliminary numbers for July point lower exports and higher imports when compared to June.