After having closed the first slab export deals for shipments in September at $600/mt, FOB conditions for the basic commercial grades, a Brazilian exporter mentioned that the next negotiations, which are due to continue throughout this week, will be closed at higher prices.
The positive expectations are based on increased demand for the product of both API and basic commercial grades.
In June, Brazil exported 790,400 mt and imported 35,600 mt of slab, against respectively 582,800 mt and 48,200 mt in May.
Ternium exported in June 307,300 mt at $874/mt to the US, 41,800 mt at $865/mt to Uruguay and 45,700 mt at $778/mt to Argentina, while ArcelorMittal exported from Tubarão 155,200 mt at $826/mt to the US, 40,600 mt at $549/mt to Canada, 36,500 mt at $836/mt to France, 31,300 mt at $838/mt to Belgium, and 9,500 mt at $868/mt to Spain, all FOB conditions.
ArcelorMittal also exported from Pecem, 42,300 mt at $853/mt to Belgium, 33,400 mt at $790/mt to the US, 26,100 mt at $897/mt to Mexico and 20,700 mt at $814/mt to Germany.
The imports were from Japan (19,000 mt at $616/mt and China (16,600 mt at $654/mt), also FOB conditions.