Without closing fresh deals after concluding sales for shipment in October, Brazilian slab producers are still negotiating deals for shipment in November. Sources say prices are expected to be closed in a price range of $840/mt to $860/mt, FOB conditions for the basic commercial grades.
Sources mentioned that holidays in the US (September 6) and Brazil (September 7) have delayed the closure of the first deals, now expected for the end of the week.
In August, Brazil exported 535,300 mt of slab, while importing 84,600 mt of the product, against 534,100 mt and 108,200 mt in July, respectively.
Ternium exported 119,900 mt at $999/mt to the US, 87,900 mt at $1,002/mt Mexico and 28,700 mt at $986/mt to Argentina; Pecem exported 94,500 mt at $941/mt to Mexico and 94,300 mt at $926/mt to the US; ArcelorMittal exported 66,400 mt at $1,017/mt to the US, 28,400 mt at $998/mt to Canada and 4,400 mt at $672/mt to South Korea, while CSN exported 10,800 mt at $960/mt to the US, all FOB conditions and different quality grades.
The imports in August were almost entirely destined to Usiminas, of which 49,900 mt at $833/mt from Japan and 34,500 mt at $837/mt Vietnam, also FOB conditions.