A Brazilian exporter told SteelOrbis that $460/mt, FOB conditions, is the new reference price for the exports of slab of the basic commercial grades, against $440/mt last week.
According to the source, the increased price reflects chiefly reduced availability of the product, rather than increased demand, as the Brazilian steel industry as a whole is operating at 63 percent of its production capacity with only three plants exporting slab: ArcelorMittal Tubarao, ThyssenKrupp CSA and Companhia Siderurgica do Pecem.
“I believe that prices are set for further increase over the next weeks,” the source said.
In July, ArcelorMittal Tubarao exported slab at $429/mt, Companhia Siderurgica do Pecem at $413/mt and ThyssenKrupp CSA at $393/mt, all FOB conditions, with price deals probably closed in May.
Preliminary figures from the Brazilian customs authorities point to a two-digit percentage increase in August from the 523,000 mt of slab exported in July.
