A market source in Brazil told SteelOrbis that exports of slab to the US are currently negotiated at $530/mt, FOB conditions for the basic commercial grades, against $540/mt FOB last week.
The source confirms that the focus of slab producers remains on the sales to the US, with few sales efforts directed to other destinations, in a move reflecting the higher prices in the US.
According to the source, sales are concluded for deliveries until July, with sales for deliveries in August onwards expected to start over the next two weeks, when prices are expected to increase, reflecting higher slab production costs, chiefly those associated with iron ore and coal prices.
In April, Ternium exported 343,000 mt of slab from Brazil at $484/mt, Pecem exported 172,700 mt at $519/mt, and ArcelorMittal exported 23,000 mt at $491/mt, all FOB conditions, different quality grades and price deals probably closed in February, having the US as main destination (509,800 mt).
