On March 27, SteelOribs reported slab offer prices to the US from Brazil firming up at $420-430/mt FOB Brazil on tight supply.
According to a source, due to market uncertainty, the expected deal prices on the lower end of the $420-425/mt FOB Brazil offer range have not been reached in recent transactions, which have been concluded at $415-420/mt FOB Brazil.
Given the positive outlook in the US domestic market for finished steel, slab offer prices from Brazil are reportedly moving to the top of the previous range and are now predominantly at $425-430/mt FOB Brazil with some rumored at $435/mt FOB Brazil. This offer range of $425-435/mt is $5/mt higher than the previously reported offer prices at the end of March, although it remains to be seen if the higher ideas will translate into actual transactions.