According to sources, the negotiations for Brazilian slab exports, for shipments in December, are now framed by a FOB range of $570/mt to $580/mt, against a range of $575/mt to $585/mt FOB last week, for sales to non-US destinations.
The drop represents the second consecutive weekly decline of prices, with reports that the last deals for shipments in November were closed at $605/mt, FOB conditions.
So far only deals for small volumes for export in December were effectively closed, while a scenario for the Brazilian domestic market persists, with sales to Usiminas and to CSN, by Pecem and Ternium, at prices roughly equivalent to the export prices.
Preliminary numbers from customs are pointing to a higher volume of slabs exports from Brazil in October, compared to the 390,100 mt exported in September.