According to sources, the reference price for the export of slabs from Brazil is $540/mt, FOB conditions for the basic commercial grades.
This price compares to $530/mt on November 21, exceeding for the first time since August 5 the range of $530-535/mt, in a stability ascribed by sources to a higher domestic demand, and now by higher HRC prices in the US, which was ultimately limiting higher slabs export prices.
A temporary reduction of production at ArcelorMittal Tubarão, due to an incident on November 17, is also playing a positive impact on slabs prices, domestic and exports, according to analysts.
In Brazil, ArcelorMittal Pecem is not exporting slabs since August, shipping instead to CSN, Usiminas and to other operations of ArcelorMittal, while ArcelorMittal Tubarão, Ternium and Gerdau maintain their slabs exports.
In October Brazil exported 413,900 mt and imported 47,000 mt of slabs, against respectively 422,200 mt and 157,800 mt in September.
Considering preliminary data covering the first four weeks of November, expectations for the rest of the month are for both exports and imports of slabs declining from October.