Brazilian slab producers are trying to close deals for shipment in July at $820/mt, FOB conditions, a local exporter told SteelOrbis.
The last deal for shipment in June was closed at $845/mt, under the same conditions, but such price could not be repeated for shipments in July, still reflecting a small margin between slabs and HRC prices. The exporter mentioned that he is about to close the first deal for July at such price.
In April, Brazil exported 505,200 mt of slab, against 602,900 mt exported in March, in a decline reflecting chiefly lower shipments to the US.
Ternium exported in April 224,600 mt of slab at $780/mt to the US, ArcelorMittal Tubarao exported 88,400 mt at $553/mt to Canada, 42,000 mt at $818/mt to the US and 28,800 mt at $702/mt to Argentina, while ArcelorMittal Pecem exported 55,200 mt at $819/mt to the US and 29,800 mt at $729/mt to Mexico, and Usiminas exported 36,400 mt at $365/mt to China.
Meanwhile, Usiminas imported 41,400 mt of slab at $629/mt from China and CSN imported 32,500 mt at $426/mt from Russia, also FOB conditions.