The reference price for Brazilian slab exports is now $595/mt, FOB conditions for the basic commercial grades, compared with $597/mt a week earlier, remaining among the highest reference prices in almost two years.
According to sources, the scenario of the slab market is maintained, with prices stable or declining slightly, as producers maintain their preference to serve the domestic market, while the USD remains strong in relation to the Brazilian Real (BRL), helping producers maintain margins, largely incurred in BRL.
Preliminary data from Secex, the foreign trade secretariat of the Ministry of Development, Industry and Foreign Trade, indicate that Brazil’s slab exports in June are expected to match or slightly exceed the 390,500 mt exported in May.
