Two Brazilian slab exporters have mentioned that they still negotiating the first orders for shipment in November, but no effective deal has been closed so far. However, they remain optimistic in relation to volumes and prices, with $650/mt, FOB conditions, as the base for negotiations for non-US destinations.
According to sources, the accident at the Posco plant in Pohang will have an impact on Brazilian slab offers, in a moment when slab from India is also scarce, positively affecting prices for the supply side, while the Brazilian domestic market remains in high demand, due to accumulation of slab stocks by Usiminas due to the refurbishment of a blast furnace in 2023 and the acquisition by CSN to increase HRC production.
In August, Brazil exported 466,100 mt of slab, in average at $814/mt, FOB conditions, against 533,100 mt at $1,016/mt in July.
In August, Ternium exported 301,000 mt of slab at $818/mt to the US, while ArcelorMittal exported 45,500 mt at $845/mt to Mexico, 27,200 mt at 823/mt to the US and 20,600 mt at $721/mt to Canada, and Pecem exported 21,000 mt at $887/mt to Mexico, 15,300 mt at $938/mt to the US, 18,600 mt at $704/mt to Belgium and 16,900 mt at $691/mt to the Netherlands, all FOB conditions and price deals probably closed in June.