One Brazilian producer has closed a 50,000 mt deal to export slabs to a client in the US, the first for the quota period.
The price was in a price range of $910/mt to $920/mt FOB, not far from previous expectations in the range of $920/mt to $935/mt FOB, in a decline reflecting reduced steel prices in different world regions.
Sources mentioned that, so far, no slab deal for October shipment in the domestic market was closed. According to sources, sales are expected to be concluded by the end of this month, a deadline to allow for shipments in October. Closure prices are estimated to oscillate in line with HRC prices in the US.
In July, Brazil exported 534,100 mt of slabs at $955/mt, while importing 108,300 mt of the product at $751/mt, both FOB conditions.
In the first two weeks of August, Brazilian slab exports are pointing to a volume similar to July, while no slab imports have entered the country’s ports.