One Brazilian slab producer has closed his last export deal for shipment in June at $845/mt, FOB conditions, with a client in the US.
The price level did not reach exporters’ expectations of up to $860/mt, due to a scenario of prices limited by the narrow margin between slab and HRC offers.
For shipments in July, which had negotiations started this week, the target price remains at $845/mt, FOB conditions.
Preliminary numbers of customs indicate that the Brazilian slab exports in April were lower than the 602,900 mt exported in March, while imports could have reached 80,000 mt in two shipments, probably destined to Usiminas, which has idled for revamping its largest blast furnace.
The reduced exports point to higher volumes destined for the domestic market.