A source from a Brazilian exporter told SteelOrbis that the most recent export slab deals are being closed at $500/mt, FOB conditions for the basic commercial grades, against $520/mt last week.
The source mentioned reduced steel production costs associated with iron ore and coal prices, coupled with a downtrend in international steel prices, as the main drivers for the reduction.
A second source, also from a local exporter, mentioned rumors that a slab export deal under $500/mt was recently closed.
In September, Brazil exported 514,100 mt of slabs, 8.5 percent more than in August, at an average FOB price reduced by 2.2 percent to $396/mt, FOB conditions, for price deals probably closed in July.
Companhia Siderurgica do Pecem exported 235,700 mt at $391/mt, Ternium Brazil Ltd (the former ThyssenKrupp CSA) exported 174,40 0mt at $399/mt and ArcelorMittal Tubarao exported 100,800 mt at $403/mt, all FOB conditions.
The main destinations were the EU (175,600 mt), the US (156,400 mt), Turkey (55,200 mt), Asia (46,600 mt), Canada (40,400 mt) and Argentina (39,700 mt).
