Brazilian slab producers are closing export deals for shipment in October in the $560/mt to $570/mt range, FOB conditions, sources tell SteelOrbis.
The price is lower than expectations unveiled last week, indicating $590/mt FOB as the target for the current round of negotiations, based on indications of a shortage of the product of the API grade.
The new reference price returns to the level seen for the last deals closed for shipments in September, $570/mt FOB.
In July, Brazil exported 463,700 mt of slab, in average at $750/mt, while imported 82,800 mt at $705/mt, FOB conditions.
Preliminary numbers for August point to both slab exports and imports exceeding the volumes of July.