According to sources, Brazilian slab exporters are about to close their first deals for shipments in December in a price range of $530/mt to $540/mt, FOB conditions for the basic commercial grades.
The new price range compares to previous expectations of $545/mt to $550/mt FOB unveiled last week, based on perspectives of low availability of material for export due to higher domestic demand, and higher demand from the US, which has reportedly not materialized so far.
In September, Brazil exported 497,100 mt and imported 21,700 mt of slab, against respectively 580,800 mt and 78,000 mt in August.
In September, Ternium exported 169,900 mt of slab at $746/mt to the US, ArcelorMittal Tubarão exported 69,700 mt at $615/mt to Mexico, 69,000 mt at $572/mt to Belgium, 51,800 mt at $592/mt to the US, 49,900 mt at $608/mt to Canada, and 20,100 mt at $629/mt to France, while ArcelorMittal Pecem exported 66,700 mt at $642/mt to the US, all FOB conditions.
Meanwhile, Usiminas imported 21,700 mt of slab at $648/mt from China, also FOB conditions.