According to sources, a Brazilian slab producer has closed a deal at $918/mt, CFR conditions, for delivery in June to a client in the US West coast.
Earlier this week, expectations were for deals at $914/mt for the East coast and $931/mt for the West coast, under the same conditions.
The expectations for the next Brazilian slab exports deals to the US, for delivery after June, are for $932/mt for the East coast and $948/mt for the West coast, both CFR conditions.
But a source linked to a local steel producer said that over the coming weeks, prices should reach or even exceed the level of $1,000/mt in FOB terms for the basic commercial grades, as the shortage and increased demand in the merchant slab market persists, with signs of volatility of prices in most world regions.
In March, Brazil exported 726,600 mt of slab at $680/mt while importing 63,600 mt of the product at $500/mt, both FOB conditions.