A source linked to a Brazilian steel producer told SteelOrbis that export slab transactions are being closed at prices around $430/mt, the same as last week, CFR conditions for US East coast ports. Slab exports to Europe continue to be traded CFR conditions at $435/mt, reflecting no change in the past week.
With rumors that import taxes in the US will not be applied to Brazilian steel products, more deals are expected in the short term for the export of slabs from Brazil to the US, raising possibilities for the increase of prices. Current prices are already under pressure by higher production costs, which are mostly related to increased raw materials costs, the source added.
Preliminary figures from the local customs point to a stable volume, in December, from the 480,100mt of slabs exported from Brazil in November.
