According to sources, Brazilian producers are negotiating the last slab export deals for shipments in June at $610/mt, FOB conditions for the basic commercial grades, against $615/mt on April 16.
At least one deal was closed at such price level, with indications that during such period the price declined to $605/mt, before recovering to $610/mt.
Despite the reduction, sources maintain expectations for increased slab prices, for shipments in July, in line with increasing HRC prices in the US.
In March, Brazil exported 484,700 mt and imported 72,700 mt of slab.
Preliminary indications point to exports from Brazil in April exceeding the volume exported in March, while during the first three weeks of April, one slab import of 29,000 mt has cleared customs in a Brazilian port, at a FOB price estimated at $590/mt.
