Brazilian slab exports maintain focus on the US, for now

Friday, 20 March 2020 21:24:51 (GMT+3)   |   Sao Paulo

Brazilian slab producers remain focused on supplying the US until the completion of the second quarter quota under US Section 232, which is still expected to be concluded by the end of this month, sources tell SteelOrbis. For now, US steel mills are still operating amidst the Covid-19 outbreak, but if production stops or declines due to lower end-use demand, it could affect demand for Brazilian slab exports.

The most recent deals were closed at $460/mt, stable from last week, FOB conditions for the basic commercial grades. The CFR price is also stable, $480/mt for ports in the US East coast and $490/mt for ports in the US West coast.

The reference price for other destinations is also stable from last week, in a range of $420/mt to $430/mt, FOB conditions for the basic commercial grades.

During February, Ternium exported 182,300 mt of slab to the US at $443/mt, Pecem exported 52,000 mt to Belgium at $395/mt, ArcelorMittal exported 48,000 mt to the US at $421/mt, and Gerdau exported 19,200 mt to the US at $352/mt, all FOB conditions and different quality grades.

Preliminary numbers from the customs authorities are pointing to a two-digit increase in March from the 301,500 mt of slab exported from Brazil in February.

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