A source linked to a Brazilian exporter told SteelOrbis that slab export prices to clients in Europe are now negotiated at $500/mt to $510/mt, FOB conditions for the basic commercial grades, against a sale closed at $480/mt last week, under the same conditions.
For sales to the US, the reference price range is now $540/mt to $550/mt, against sales closed at $515/mt last week, both FOB conditions.
The source mentioned that the company has completed its sales for delivery in April, returning to negotiations for deliveries in May in two weeks, after a local holiday period. Higher production costs, chiefly iron ore and scrap prices, remain as the main reason mentioned for justifying the higher slab prices.
Preliminary indications point to a significant decline in February from the 699,000 mt of slab exported from Brazil in January.
