According to sources, the last Brazilian slabs export deals for shipment in December were closed at $520/mt, FOB conditions for the basic commercial grades, compared to $528/mt FOB for deals closed last week.
It is not clear when negotiations for slab shipments in January 2024 will start, or which price target Brazilian exporters will assume for the new round of negotiations.
Preliminary numbers from customs are pointing to slab exports from Brazil, in October, exceeding the 497,100 mt exported in August, while slab imports by the country are also expected to increase in October, from the 21,700 mt imported in August.