Unchanged over the last three weeks, the reference export price for Brazilian slabs stands at $458/mt on an FOB basis for basic commercial grades.
Sources have commented that more deals were closed during the period in the $455/mt to $460/mt range.
In October, Brazil exported 531,800 mt of slabs, comparable to 467,800 mt in September.
In October, ArcelorMittal Tubarão exported 94,600 mt of slabs at $485/mt to the US, and 31,500 mt at $472/mt to Argentina, while Ternium exported 94,300 mt at $511/mt to the US, 47,800 mt at $509/mt to Mexico, and 29,200 mt at $522/mt to Argentina.
Also in October, ArcelorMittal Pecem exported 78,200 mt at $495/mt to the US, 74,700 mt at $495/mt to Mexico, and 31,700 mt at $482/mt to Italy, while Gerdau exported 49,800 mt at $465/mt to Mexico.
No slabs were cleared through customs at Brazilian ports in September and October. However, sources noted that a significant quantity of the product remains stockpiled there, as importers are waiting for favorable exchange rates before proceeding with the customs clearance.
