After closing a slab export deal at $695/mt, FOB conditions for shipment in August, one Brazilian exporter has decided for the postponement of negotiations for the next week.
In his view, slab prices have declined sharply in the last two weeks, while other market references, such as iron ore and finished steel products, prices seem to be reacting, so a delay in negotiations could be profitable for Brazilian slab exporters.
The reference for the FOB export price of Brazilian slab has declined since a deal for shipment in June was closed at $845/mt.
In May, Brazil exported 762,100 mt of slab, while importing 47,700 mt of the product, against respectively 505,200 mt and 73,900 mt in April.
Ternium exported in May 345,200 mt of slabs at $849/mt to the US, while ArcelorMittal Tubarão exported 137,500 mt at $828/mt to the US, 90,900 mt at $552/mt to Canada, 27,700 mt at $820/mt to Argentina and 10,400 mt at $886/mt to Mexico.
ArcelorMittal Pecem exported 62,400 mt at $844/mt to the US and 50,400 mt at $850/mt to Mexico.
The imports were by Usiminas from Vietnam, 47,700 mt at $620/mt, also FOB conditions.