Brazilian slab exporters remain offering the product for shipment in June at $835/mt, FOB conditions, for non-US destinations, stable over the last two weeks.
For exports to the US, the product is now reportedly offered at $850/mt FOB, but sources say clients are reluctant to close deals by more than $820/mt FOB. Last week, the negotiations for exports to the US were framed by a range of $860/mt to $870/mt FOB
A scenario persists with slab export prices dictated by the small price margin between slab and HRC.
In the Brazilian domestic market, a shortage of offers remains due to low levels of production at CSN and Usiminas, now with perspectives of increased shortage, raised by rumors that CSN will stop for revamping its blast furnace number 2.
In March, Brazil exported 602,900 mt of slab, in average at $668/mt FOB and registered no imports of the product. So far in April, there is an indication that a small import arrival, of around 30,000 mt, has cleared customs in a Brazilian port.