After a small increase last week, slab export prices are stable in Brazil, with the reference price for exports to Europe at $340/mt and to Asia at $330/mt, both FOB conditions for the basic commercial grades. For sales to the US, offers remain in a range of $350/mt to $355/mt, under the same conditions, reportedly under the third quarter quota of US Section 232.
In April, Brazil exported 513,400 mt of slab, against 698,200 mt in March.
The main destination was the US (358,100 mt at $485/mt), under the second quarter quota of the US section 232, followed by Mexico (78,300 mt at $417/mt), Canada (50,800 mt at $453/mt) and the Czech Republic (26,200 mt at $459/mt), all FOB conditions, different quality grades and price deals probably closed in February.
The exporters were Ternium (231,000 mt at $476/mt), Pecem (155,000 mt at $446/mt), ArcelorMittal Tubarao (79,000 mt at $475/mt) and Gerdau Ouro Branco (48,400 mt at $507/mt).
Considering the recent announcements of reduced production by Brazilian slab producers, exports of the product in May are expected to be reduced from the volume exported in April.