The reference export price for Brazilian slabs declined to $460/mt from last week’s $467/mt, FOB conditions for basic commercial grades.
Though modest, this is the largest drop in over eight weeks and shows the impact of high import taxes in the US, the main destination of the Brazilian slabs.
During the first eight months of the year, Brazil exported 4.371 million mt of slabs, of which 3.469 million mt were destined to the US.
For the first three weeks of September, Brazil exported an estimated 350,000 mt of slabs, in average at $510/mt, FOB conditions, but in this case including quality extras.
