According to sources, Brazilian producers are negotiating slab export deals for the first shipments in May having $645/mt, FOB conditions for the basic commercial grades, as the reference price.
The price compares to $660/mt last week, for the last shipments in April, in a decline still reflecting slab prices affected by lower HRC prices in the US.
At least one Brazilian slab producer has effectively closed an export deal at $645/mt for shipment in April.
Preliminary numbers for February point to a volume of slab exported for the whole month declining from the 575,400 mt exported in January, while so far two import cargoes of slab of 46,700 mt each at $582/mt, FOB conditions, have cleared customs in a Brazilian port. In January, Brazilian slab imports have reached 23,400 mt.