The Brazilian producers are now negotiating slabs exports at $535/mt against $540/mt last week, FOB conditions for the basic commercial grades.
This price remains at a range of $530/mt to $540/mt since August 5, 2024.
According to analysts, if the increase of import tax in the US on Mexican steel is confirmed, the demand for Brazilian slabs by the US should increase, positively affecting the price of the Brazilian product, but not with a high increase as this could generate retaliatory measures by the US government against Brazil.
Today, Brazil is the top slab exporter to the US, followed by Mexico and Canada.
Preliminary numbers for exports of slabs from Brazil in January remain around 450,000 mt.