Brazilian producers are negotiating slab exports in a range of $420/mt to $430/mt, against $425/mt to $435/mt last week, FOB conditions for the base commercial grades, with exports to Europe and Latin America, a local market source told SteelOrbis.
The source mentioned that negotiations with US customers have just started, with a price target of $450/mt to $460/mt FOB for the base commercial grades, but so far no deals have been effectively closed. Such negotiations are for deliveries to reach US ports in January, under US Section 232 quotas.
In August, Brazil exported 434,300 mt of slab, roughly the same volume exported in July. Ternium exported 164,600 mt at $494/mt, ArcelorMittal Tubarao exported 137,000 mt at $442/mt, Pecem exported 122,700 mt at $464/mt, Gerdau exported 5,200 mt at $353/mt, and Usiminas exported 4,800 mt at $353/mt, all FOB conditions, with different quality grades and price deals probably closed in June.
The main destination was the US (219,300 mt at $501/mt), followed by Turkey (100,100 mt at $429/mt), South Korea (52,600 mt at $474/mt), Indonesia (50,200 mt at $403/mt), China (6,600 mt at $352/mt), and Singapore (5,500 mt at $353/mt).