According to sources, a Brazilian slab exporter has closed deals with clients in Europe at $620/mt, FOB conditions for the basic commercial grades, for most of its shipments in March.
Previous expectations for such deals were in the $615/mt to $625/mt range, under the same conditions.
For sales to clients in the US, only a small volume was sold under the expected price range of $635/mt to $645/mt, while the unsold volume was diverted to clients in Europe.
A volume of 20,000 mt is still available for shipment in March, in a deal expected to be concluded over the next few days.
The volume of slab sold in the Brazilian domestic market has frustrated expectations of high volumes, with only a few deals closed around the equivalent to $620/mt FOB conditions.
The expectations for shipments in April are currently for prices around $650/mt, also FOB conditions, for sales to non-US destinations.