A source linked to a Brazilian slab exporter mentioned that the company has concluded its sales for shipments in October, with a decreased total volume compared to the previous month.
The source mentioned that the producer’s last sale for the period was closed at $610/mt, FOB conditions, for a client in Europe, but most of the volume was sold in the $600/mt to $605/mt FOB range. The volume sold to the US was also reduced, with a price around $650/mt FOB, the source added.
Negotiations for shipments in November are set to start next week, with optimistic expectations for prices and volumes, chiefly to Europe, as India is reportedly reducing its slab exports and giving priority to their own rolling operations. The source mentioned that the price expectation for the next round of negotiations is $650/mt, FOB conditions, for non-US destinations.
Domestic slab sales remain in higher-than-average volumes, as Usiminas remains accumulating stocks for the period when its Ipatinga blast furnace number three stops production for refurbishment, while CSN is buying slab to increase its rolling activities.