The reference export price for Brazilian slabs is $485/mt, against $468/mt last week, FOB conditions for basic commercial grades.
Such price has hovered between $455/mt and $470/mt since July 2025.
As previously expected by analysts, the increase reflects positive perspectives from negotiations between Brazil and US authorities about the import tax in the US for Brazilian products.
The increase also reflects Brazilian producers' complaints that low prices have threatened their margins, as local slab production costs nearly match export prices.
The Brazilian steel producer, CSN, has recently unveiled in its third quarter results release that its slabs production cost was $594/mt during that period.
The Brazilian slabs exports in November have probably exceeded the 531,800 mt of October, according to preliminary numbers by SECEX.