According to sources, since August 21 the reference price for the exports of slabs from Brazil remains at $530/mt, FOB conditions for the basic commercial grades.
In August, Brazil exported 465,800 mt and imported 144,300 mt of slabs against respectively 954,600 mt and 185,400 mt in July.
The decline is in line with expectations from analysts for increased domestic demand for slabs to feed rolling activities that will replace reduced imports of HRC, CRC, and coated flat products, under the system of quotas limiting imports of these products.
In August, Companhia Siderurgica Nacional (CSN) exported 272,100 mt of slabs at $643/mt to the US, while ArcelorMittal Tubarão exported 133,200 mt at $585/mt to the US and 60,500 mt at $575/mt to Canada, FOB conditions.
Also in August, CSN imported from Russia 93,300 mt of slabs at $503/mt and Usiminas imported from Vietnam 27,300 mt at $557/mt and 23,700 mt from Japan at $489/mt, also FOB conditions.
