As Brazilian slab producers close out their export order books for March shipments, the latest offers to Europe have been heard at $630/mt, FOB conditions, within the overall range of $620-$630/mt FOB. However, once orders commence for April shipments, sources say prices will be higher, especially for importers in the US who showed lackluster interest in March shipments.
Sources tell SteelOrbis that European importers observed a perspective for increased slab demand worldwide and reduced offers from CIS producers and ordered accordingly. US importers, meanwhile, did not take advantage of the situation, and ex-Brazil slab export offers to the US for April shipment are expected to be closer to the $700/mt FOB, due to the current low availability in the merchant slab market.
Reports in Brazil indicate that slab producers are receiving requests for quotations but are not able to meet the demand.