After closing the last deals for shipment in March in a range of $620/mt to $630/mt, FOB conditions for non-US destinations, Brazilian slab producers are increasing their target price range to $640/mt to $650/mt FOB for shipments in April.
Sources mentioned that the optimism derives from a combination of a reduced offers from CIS producers and increased demand from different world regions.
For sales to the US, sources tell SteelOrbis that prices could be increased to $700/mt FOB, depending on the direction of HRC prices in the country, which are currently on a downtrend. The last deals for Brazilian slab exports to the US were reportedly closed in the $635/mt to $645/mt FOB range.
In January, the volume of Brazilian slab exports is expected to be lower than the 750,000 mt exported in December.