Brazilian slab producers still waiting to close deals for January shipment

Wednesday, 17 November 2021 21:56:49 (GMT+3)   |   Sao Paulo

Brazilian slab producers and their clients have not yet closed export deals for shipments in January after two weeks of negotiations, sources told SteelOrbis.

The slab producers are reportedly in a “wait-and-see” strategy, hoping that Chinese clients will consolidate their interest for the Brazilian slab, measuring the volume to be shipped to China and then conclude the deals with their clients in other countries.

Sales to destinations other than the US are now expected to be closed at $740/mt, FOB conditions for the basic commercial grades, against previous expectations in the $720/mt to $730/mt. Reports of negotiations in the $700/mt to $720/mt range could not be confirmed.

For sales to the US, expectations remain in the $760/mt to $770/mt range, under the same conditions.

In October, Brazil exported 419,100 mt of slab, in average at $949/mt FOB, against 596,100 mt at $964/mt FOB in September. Preliminary numbers from customs point to an increase in November from the volume of slabs exported from Brazil in October.

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