Brazilian producers are negotiating the exports of slab at $435/mt, against a price range of $460/mt to $480/mt last week, FOB conditions for the base commercial grades, a local market source told SteelOrbis.
A source mentioned that the reduced price reflects direct competition with producers in Russia and Ukraine. According to the source, Latin America and the US are no longer the immediate focus for Brazilian slab producers, which are now negotiating exports chiefly with countries in the EU and with Turkey, among others.
In May, Brazil exported 537,500 mt of slab, of which 343,000 mt at $529/mt to the US, 100,100 mt at $447/mt to Mexico, 50,300 mt at $523/mt to Spain, 26,000 mt at $557/mt to the Czech Republic and 18,100 mt to Canada at $583/mt, all FOB conditions and price deals probably closed in March.
Preliminary indications by the Brazilian customs point to a decline in June from the volume of slab exported by the country in May.
