The first slab export deals for shipments in May were closed at $820/mt, FOB conditions, for non-US destinations, sources tell SteelOrbis.
One week ago, expectations were for a minimum price of $800/mt FOB, due to a shortage of material for export as a result of the stoppage of a blast furnace for revamping at Usiminas and low slab production at CSN due to operational problems.
For sales to the US, the first deals were reportedly closed at $870/mt, under the same conditions, also above expectations of $850/mt FOB unveiled one week ago.
Slab exports from Brazil in March are expected to exceed the 563,200 mt exported in February.
It is not clear so far if slab producer Pecem, recently acquired by ArcelorMittal, will maintain its domestic sales to Usiminas and CSN, or will give preference to exports or to the supply to other units of the group.