Brazilian slab producers have closed the first deals for shipments in November, sources told SteelOrbis. Sales to destinations other than the US were reportedly closed in a range of $850/mt to $870/mt, FOB conditions for the basic commercial grades, including the Brazilian domestic supply at equivalent conditions.
For sales to clients in the US, the deals were closed in a range of $870/mt to $900/mt, FOB conditions for the basic commercial grades.
The deadline for closing deals for shipment in November is September 30, but it is expected that most of such deals will be closed before this deadline, as Pecem’s production in October will be reduced due to a stoppage for maintenance at the plant’s blast furnace.
In August, Brazil exported 535,300 mt of slab, in average at $974/mt, while importing 84,600 mt of the product at $835/mt, both FOB conditions.
Brazilian slab exports in September are expected to maintain a volume similar to August.