Brazilian producers are negotiating price deals for slab shipments to the US in September at $960/mt, FOB conditions for the basic commercial grades.
The previous target price was a range of $960/mt to $980/mt, under the same conditions, but the new price—with at least one deal effectively closed at $960/mt—is more in line with the current market conditions. Sources tell SteelOrbis that slab prices are declining internationally, including in major slab producing countries such as Russia.
According to sources, negotiations for the supply in the Brazilian domestic market are being carried out at equivalent price levels, but so far no deals were effectively closed.
In June, with price deals probably closed in April, Brazil exported 580,300 mt of slab, in average at $864/mt, FOB conditions. Preliminary figures from customs are pointing to a similar volume of slab being exported in July.