One Brazilian slab producer told SteelOrbis that it has closed deals with clients in the US at $839/mt to the East coast and at $856/mt to the West coast, CFR conditions for the basic commercial grades, for deliveries in June.
This compares respectively to offers at $816/mt and $832/mt last week, reflecting both increased FOB prices and freight rates.
The source mentioned that one sale was closed with a client in Canada and another with a Brazilian domestic client, probably Usiminas.
The sale to the Canadian client was reportedly closed at a price similar to the client on the US West coast, while the sale to the Brazilian client was closed around $805/mt, ex-works, no taxes included.
Preliminary numbers from customs remain indicating a significant increase, in March, from the 491,100 mt of slabs exported from Brazil in February.
With such increased export volume, the Brazilian steel producers that are outsourcing part of their slabs consumption have decided to import the product to feed their rolling activities.
In January and February, slabs imports in Brazil have reached 101,400 mt, with perspectives that more slabs are arriving the Brazilian ports in March.