One Brazilian slab producer has closed its last export deal with a client in the US at $805/mt, FOB conditions, concluding its sales for shipments in July. Earlier this week, a similar deal was closed at $820/mt under the same conditions.
According to sources, no sale to clients in Europe was closed under this round of negotiations, while a significant volume was sold in the Brazilian domestic market, at a price equivalent to $805/mt FOB conditions.
The negotiations for shipments in July have frustrated the Brazilian slab producers, which were expecting FOB prices around $1,000/mt, but the gradual return of Russia to the merchant slab market, chiefly via shipments to China, resulted in lower prices.
For shipments in August, expected to start during the second week of June, Brazilian exporters are reportedly considering $805/mt as a “floor” for their FOB prices.