The most recent Brazilian slab export deal was closed at $735/mt, FOB conditions, for shipment in July. One week ago, a similar deal was closed at $750/mt, while another one on May 16 was closed at $815/mt, both FOB conditions.
The decline remains reflecting a scenario of prices dictated by the narrow price margin between slab and HRC, while reduced domestic demand for flat steel products, and consequently for slab, is increasing the volume of slab available for exports, negatively affecting prices.
Slab exports from Brazil in May are expected to exceed the 505,200 mt exported in April.