According to sources, the reference price for the export of slabs from Brazil is $520/mt which is stable from August 5, FOB conditions for the basic commercial grades, for the last shipments in October.
One exporter mentioned that prices are expected to increase in the short term, as the current level is close to the production costs of the Brazilian main slab exporters.
In July, Brazil exported 954,600 mt of slabs, the highest monthly volume in recent years, while importing 185,400 mt of the product.
ArcelorMittal Pecem exported 309,100 mt at $648/mt to the US, 45,600 mt at $641/mt to France, 26,100 mt at $722/mt to Mexico, and another cargo of 11,800 mt at $538/mt to the US, whereas Ternium exported 282,800 mt at $657/mt to the US and ArcelorMittal Tubarão exported 205,300 mt at $624/mt to the US, and 73,900 mt at $603/mt to Canada, all FOB conditions.
The imports were by Usiminas (60,900 mt from Russia at $506/mt for the Ipatinga plant), 33,000 mt at $529/mt from Russia for the Cubatão plant, 25,000 mt at $512/mt from Japan for the Cubatão plant, and 19,500 mt at $557/mt from Vietnam for the Ipatinga plant, while Companhia Siderurgica Nacional (CSN) imported 47,000 mt at $474/mt from Russia, also FOB conditions.