Brazilian slab exporters are negotiating deals in average at $495/mt, FOB conditions for basic commercial grades.
The price compares to a reference price of $510/mt, stable over the last four weeks, under the same conditions, in a decline possibly reflecting lower expectations in relation to the Brazil-US negotiations for the reduction by the US of the import tariff for the Brazilian slabs.
Prices could also be affected by negotiations among companies of the same group, at prices not necessarily linked to market conditions.
Last week, sources indicated a variation range between $500/mt and $520/mt for the reference price of the Brazilian slabs, with export price to the US influencing prices for other destinations as well.
Preliminary indications for May remain pointing to a volume of slabs exports from Brazil in line with the 429,600 mt exported in April.