Sources tell SteelOrbis that negotiations for Brazilian slabs for shipment in December remain framed by a $595-605/mt price range, FOB conditions, for non-us destinations, the same range as earlier this week.
For US destinations, slab is offered by Brazilian exporters in $640-650/mt FOB range, but there is no confirmation that deals for shipments in December were closed at this range.
A domestic scenario persists with Usiminas and CSN acquiring slab from Pecem and Ternium, with Usiminas building slab stocks for the stoppage of its main blast furnace for revamping next year, while CSN is still buying more slab to maintain its rolling operations at full pace.
In September, Brazil exported 390,100 mt of slab against 466,100 mt in August. The decline reportedly reflects material diverted to the local market.
In September, Ternium exported 118,300 mt of slab at $751/mt to the US and 28,300 mt at $703/mt to Argentina, ArcelorMittal exported 80,700 mt at $697/mt to Canada and 72,000 mt at $769/mt to the US, while Pecem exported 56,300 mt at $650/mt to Mexico and 34,500 mt at $752/mt to the US, all FOB conditions and price deals probably closed in July.