Brazilian domestic slab prices are being negotiated at the equivalent FOB price of $405/mt, against $380/mt one month ago, a local market source told SteelOrbis. The reference price range refers to the base commercial grades.
The domestic slab market in Brazil is currently estimated around 40,000mt per month, with CSN and Usiminas reducing their acquired volumes. Pecem and Ternium remain active in the supply side.
Further volume reductions of domestically traded slabs are expected in the short term. Return to normal operations is not expected until currently idled blast furnaces are brought back online.
No imports of slabs have reached the Brazilian ports in November, October and September, while 57,000mt of slabs were imported in August by Usiminas from Russia at $403/mt and 200mt from China at $828/mt, both FOB conditions and different quality grades.
