After postponing negotiations for shipments in August in the hope of achieving higher prices, one Brazilian slab exporter has returned to the market, but the results were not in line with expectations.
After a deal closed two weeks ago at $695/mt, FOB conditions, the subsequent deals this week were reportedly closed at $690/mt, under the same conditions.
Sources mentioned that $690/mt is the new reference for the current round of negotiations for shipments in August, which are expected to be concluded next week.
In May, Brazil exported 762,100 mt of slab, in average at $810/mt, while importing 47,700 mt of the product at $620/mt, against respectively 505,200 mt at $710/mt and 73,900 mt at $540/mt in April, all FOB conditions.
Preliminary numbers of June indicate that Brazil’s export slab volumes are in line with volumes in May, while one import of 30,000 mt was so far registered by customs.