One Brazilian slab exporter has closed the first slab export deal for shipment in August at $695/mt, FOB conditions.
The price is within the range of expectations by producers, $690/mt to $720/mt, under the same conditions.
Another exporter confirmed that prices are trending in a decline, converging with prices in Europe and Asia, but he conceded that so far, operational margins remain healthy.
In April, Brazil exported 505,200 mt and imported 73,900 mt of slab. In May, the exports are expected to have exceeded the volume of April, while imports were limited to 54,000 mt, according to preliminary numbers from customs.