Brazilian producers have restarted negotiations to export slab to clients in the US in a price range of $520/mt to $530/mt FOB, for the basic commercial grades, against a price level of $530/mt FOB last week, a local market source told SteelOrbis.
Such negotiations are covering shipments to be made during December, with volumes set to arrive at US ports in January 2019, clearing customs with tax exemption under the US section 232 quota agreement.
Preliminary indications from the Brazilian customs authorities point to an increase, in October, from the 508,600 mt of slab exported by the country in September, although the average price so far in the month is showing a small reduction from the average $606/mt FOB in September.