Sources told SteelOrbis that Brazilian slab producers are having to reduce offers for closing fresh deals, after having sales closed in the range of $850/mt to $870/mt for local and non-US destinations and $870/mt to $900/mt for their US clients, FOB conditions for the basic commercial grades.
Negotiations are now reportedly ranging from $825/mt to $855/mt for domestic and non-US markets and $855/mt to $875/mt to the US market, under the same conditions.
The decline reflects reduced slab prices in the international markets, sources said, adding that the prices are not expected to decline further, at least until the end of September, which will be the deadline for closing deals for November shipments.
Preliminary customs figures are now pointing to Brazilian slab exports in September in a volume lower than the 535,300 mt exported in August.