Slab export prices in Brazil remain stable at $545/mt to $555/mt to Asia, $534/mt to $538/mt to the US East coast, $540/mt to $545/mt to the US West coast and $510/mt to $520/mt to Europe, all CFR conditions for the basic commercial grades.
Sources tell SteelOrbis that current prices are higher than those expected by analysts, possibly having already reached a peak, as demand now is expected to decline under a seasonal pattern associated with reduced industrial activity in December and January.
Under this viewpoint, prices during the first quarter of 2021 are expected to be lower in average than those of the last quarter of 2020, but in a year-on-year basis, the average slab price in 2021 is expected to be higher than in 2020.
In October, Brazil exported 460,800 mt of slab, against 419,600 mt in September. The exporters were Ternium (247,500 mt at $417/mt), Pecem (165,700 mt at $397/mt) and CSN (47,600 mt at $410/mt), all FOB conditions and different quality grades.
