According to sources, the reference price for the export of slabs from Brazil is $530/mt, FOB conditions for the basic commercial grades.
Such price compares to $535/mt last week, remaining in a range of $530-535/mt since August 5.
Analysts believe that the stability of reference prices reflects the fact that part of the slab export deals are closed among companies of the same group, at prices not necessarily linked to market conditions, while the domestic demand for steel products also plays a role in the process by ultimately indicating the volume of slabs available for exports.
According to customs, preliminary numbers of the first four weeks of October indicate that the Brazilian slabs exports are expected to stay in line with the 422,200 mt exported in September, while imports of the product should decline in October from the 157,800 mt imported in September.