The reference export price for Brazilian slabs is $468/mt, stable from last week, FOB conditions for basic commercial grades.
Such price maintains a long-term path of stability, varying between $455/mt and $470/mt since July 2025, and between $530/mt and $540/mt between August 2024 and March 2025, before the announcement of the 50 percent import tariff by the US.
Slabs exports in November are expected to exceed the volume of 531,800 mt exported in October, according to preliminary numbers unveiled by the foreign trade authority, SECEX, which are pointing to an average export price of $497/mt, FOB conditions, but in this case including quality extras.
Market players and analysts agree that the reference price for the basic commercial grades is expected to show modest increases over the next weeks, focused on ongoing negotiations between Brazilian and US authorities, covering import tariffs for the Brazilian products imposed by the US.