After three weeks of stability, the reference export price for Brazilian slabs is now $468/mt, against $458/mt previously, FOB conditions for basic commercial grades.
From a wider perspective, the reference price is varying between $455/mt and $470/mt since July 2025.
In October, Brazil exported 531,800 mt of slabs in average at $490/mt against 467,800 mt at $497/mt in September, also FOB conditions, but in such cases including quality extras.
Analysts anticipate that the reference price will continue to see modest increases in the coming weeks, driven by optimism surrounding ongoing Brazil-US meetings focused on import tariffs imposed by the US on Brazilian products. Additionally, the current reference price is already putting pressure on profit margins for Brazilian slab producers. For instance, although CSN is not typically an exporter of slabs, it reported in its third quarter release that its current slab production cost has reached $594/mt.
