A source linked to a Brazilian exporter told SteelOrbis that the first slab export deals, under the current round of negotiations for delivery in April and May were closed at $515/mt for sales to the US, FOB conditions for the basic commercial grades, against a previous range of $450/mt to $460/mt, under the same conditions.
According to the source, a sale to a client in Europe was closed at $480/mt FOB, compared with a previous range of $405/mt to $410/mt for non-US destinations.
The higher prices are set to compensate for higher production costs, linked chiefly to iron ore and scrap prices, the source had previously commented with SteelOrbis.