Slab offers in the Brazilian domestic market are currently negotiated at the equivalent FOB price of $430/mt to $440/mt, against $450/mt to $460/mt one month ago, a local market source told SteelOrbis. The reference price range refers to the base commercial grades.
Sales in the domestic slab market in Brazil are currently estimated around 90,000 mt per month, against 70,000 mt to 80,000 mt per month one month ago, reflecting the return of CSN to the buying side of the market, as the company has decided to postpone the restart of one blast furnace.
One month ago, Usiminas was the sole buyer, having Pecem and Ternium as suppliers.
According to the Brazilian customs authorities, Usiminas imported in August 57,000 mt of slab from Russia at $403/mt, and 200 mt from China at $828/mt, both FOB conditions and different quality grades. The price deals for such imports were probably closed around May-June.
No imported slab arrived at Brazilian ports in May, June or July, after imports of 72,000 mt arrived between January and April.
