A source linked to a Brazilian exporter told SteelOrbis that the new reference price for the exports of slab of the basic commercial grades is $485/mt, FOB conditions, reflecting an increase of $10/mt in the last week.
The source mentioned that a shortage of material for export, rather than demand, is pushing prices upward, as only ArcelorMittal Tubarao, Ternium Brazil Ltd (the former ThyssenKrupp CSA) and Companhia Siderurgica do Pecem are exporting slab, while Usiminas and CSN are buying outsourced slab to feed part of their rolling operations.
Other sources have quoted offers in the $500/mt to $505/mt range, FOB conditions, for the supply of Brazilian slab to clients in the US.
In August, Ternium Brazil exported 176,800 mt of slab at $420/mt, Pecem exported 176,000 mt at $390/mt and Tubarao exported 121,100 mt at $404/mt, all FOB conditions, with price deals probably closed in June.