The reference price for Brazilian steel slabs exports is now $600/mt, FOB conditions for the basic commercial grades, against $605/mt one week earlier, having declined for the first time since October 2025.
The price reduction follows a five-week period of stability, reflecting sustained domestic demand from CSN and from Usiminas.
The small decline is attributed by analysts to the recent devaluation of the Brazilian Real (BRL) vis a vis the US, interrupting a trend that had driven the USD quotation in BRL to the lowest level since January 2024.
Because most Brazilian steelmakers’ costs are in BRL and only a portion is linked to USD, the stronger dollar helps offset lower slab prices.
In April, Brazil exported 687,400 mt of slabs, in average at $551/mt, with price deals probably closed in February.
Brazilian customs data for the first week of May show about 100,000 mt of slab exports at $626/mt FOB, including quality extras.
