A market source in Brazil told SteelOrbis that slab export offers to the US are currently negotiated at $530/mt, FOB conditions for the basic commercial grades, the same price as last week.
The source confirms that the focus of slab producers remains with 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, slab sales for deliveries in August onward should start next week, 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, with different quality grades and price deals probably closed in February, having the US as main destination (509,800 mt).