According to sources, the negotiations for slab exports from Brazil, for shipments in December, are now framed by a range of $575/mt to $585/mt FOB, against a range of $595/mt to $605/mt FOB last week, when the negotiations began.
So far there is no confirmation of export deals effectively closed for the period, in a lack of definition derived from uncertainties ultimately regarding energy costs in Europe and inflation in the US.
In the Brazilian domestic market, one exporter has reportedly closed deals totaling 140,000 mt, at a price around the equivalent to $595/mt FOB.
Usiminas remains building slab stocks for the stoppage for revamping of its main blast furnace next year, while CSN remains buying slab to maintain its hot rolling activities at full pace.
In September, Brazil exported 390,100 mt of slab, in average at $725/mt against 466,100 mt at $814/mt in August, both FOB conditions.