Slab offers in the Brazilian domestic market are currently negotiated at around $425/mt to $435/mt FOB, against $460/mt to $480/mt FOB one month ago, a local market source told SteelOrbis. The reference price range refers to the basic commercial grades.
Today, buyers in the Brazilian slab domestic market are Usiminas, Gerdau and CSN, while the suppliers are Pecem, Tubarao and Ternium, in a market currently estimated at 100,000 mt per month.
Usiminas has idled the steel producing area of its Cubatao plant, which has been operating as a rolling plant since late 2015, while CSN and Gerdau are in the process of revamping blast furnaces in their Volta Redonda and Ouro Branco plants.
The Cubatao plant of Usiminas is also feeding on slab from the company’s Ipatinga plant, having imported from Russia 38,800 mt of slab at $481/mt during Q1 2019 and 35,400 mt at $412/mt in April, both FOB conditions.
According to Brazilian customs authorities, no slab imports were registered by the country in May or June.