According to sources, Brazilian producers are negotiating slab export deals for shipments in June at $615/mt, FOB conditions for the basic commercial grades, against $620/mt one week ago. Sources say at least one deal was closed at such price level.
Despite the price reduction, sources maintain expectations for increased slab prices, in line with higher HRC prices in the US.
In March, Brazil exported 484,700 mt and imported 72,700 mt of slab. Preliminary indications point to slab exports from Brazil in April exceeding the volume exported in March, while during the first two weeks of April no slab imports have cleared customs in Brazilian ports.