A source from a major Brazilian steel producer told SteelOrbis that it has just closed a deal to export slabs of the base commercial grade at $480/mt, FOB port, against $450/mt ten days ago.
The source said that although he is not sure if the increase points to a recovery of prices, some producers have declined to close deals at $450/mt, a fact that could indicate that $480/mt could be the new reference price for negotiations.
Over the last three months, the reference price for slabs exports from Brazil was $500/mt.
During October, the FOB average price for the Brazilian slabs exports was $469/mt, with a wide variation depending on destinations and producers.