A source from a Brazilian exporter told SteelOrbis that his last slab export deal was closed at $425/mt, FOB conditions, against an average of $420/mt over the last three weeks. He added that the prices are testing an upward trend, fueled by increased iron ore prices and unstable but high coal and coke prices.
A second source, from a steel producer, mentioned a reference price of $390/mt, FOB conditions, for the product of the basic commercial grades, in his view stable so far in 2017.
Although both sources refer to the product of the basic commercial grades, the price range reflects both differences in casting quality derived from new, state-of-the-art plants and different logistics costs associated with the location of the plants.
Brazil exported 593,200 mt of slabs in January, 20 percent more than in December 2016, at an average price increased by 4.8 percent to $354/mt FOB.
ArcelorMittal Tubarao exported 202,500 mt at $367/mt, Companhia Siderurgica do Pecem exported 184,800 mt at $324/mt, ThyssenKrupp CSA exported 154,400 mt at $378/mt and Gerdau Ouro Branco exported 51,300 mt at $335/mt, all FOB conditions, with price deals probably closed in November 2016.
The main destinations were the US (273,200 mt at $370/mt), the EU (178,000 mt at $338/mt), Turkey (95,400 mt at $347/mt) and Asia (46,500 mt at $333/mt), all FOB conditions.