Brazilian slab producers are negotiating exports to the US in a range of $580/mt to $590/mt, against a range of $585/mt to $595/mt, last week, FOB conditions for the product of the basic commercial grades, a local market source told SteelOrbis.
The source mentioned that the current negotiations for the delivery to the US in September refer to volumes still included as “tax-free” under the Section 232 quota, equivalent to 80 percent of the volume exported to the US last year.
According to the source, slab prices for export to Europe have also declined, and are now hovering around $540/mt, against a range of $555/mt to $560/mt last week, under the same conditions.
In July, Brazil exported 545,400 mt of slab at an average FOB price of $590/mt.
Companhia Siderurgica do Pecem exported 165,300 mt to the US at $598/mt, 54,900 mt to South Korea at $547/mt, 39,800 mt to Canada at $630/mt and 35,500 mt to Germany at $557/mt, while Ternium Brazil exported 144,800 mt to the US at $601/mt, and ArcelorMittal Tubarao exported 50,600 mt to Belgium at $555/mt, 31,400 mt to Canada at $591/mt and 23,100 mt to the US at $617/mt.
Such prices include different quality grades and were probably closed in May.