The reference price for Brazilian slab exports is $545/mt, FOB conditions for the basic commercial grades, following three weeks of stability at $540/mt, according to preliminary figures from Secretaría de Comercio Exterior (SECEX), the Brazilian secretariat of foreign trade of the Ministry of Industry, Development and Foreign Trade.
The modest increase, which brings the reference price back to its highest point since August 2024, is attributed by analysts to a combination of factors. These include the depreciation of the USD against the BRL, expectations for the resumption of slab exports by Brazilian producers to the US following a pause in January, and, most recently, disruptions in maritime transport resulting from the conflict in Iran. It is noted that shipments from Brazil to the US or European countries remain unaffected by these circumstances.
Brazilian slabs exporters expect stable or slightly higher export prices in the coming weeks.
SECEX said Brazil's slab exports in February are expected to surpass the January volume of 410,900 mt. The most recent price recorded was $550/mt, FOB, inclusive of quality premiums.
