According to sources, the last deals for the export of Brazilian slabs to non-US destinations was closed at $605/mt, FOB conditions, for shipment in November.
Such price compares to previous expectations of $650/mt, under the same conditions, in a decline reflecting additional volume offered in the merchant slab market, chiefly from Posco.
The lower price was not a major concern for the producers, as intense domestic demand is maintained, chiefly from Usiminas, at prices slightly higher than the equivalent to the FOB export price.
One of the local exporters has reportedly concluded its sales for shipments in November, with expectations of increased prices for the shipments in December, with negotiations expected to start during the next two weeks.