Exports of Brazilian slab to Asian countries remain in a price range of $545/mt to $555/mt, CFR conditions for the basic commercial grades, stable from last week.
Exports to the US remain stable in the range of $534/mt to $538/mt CFR for the East coast and $540/mt to $545/mt CFR to the West coast.
Brazilian slab export offers to Europe are also stable, in a price range of $510/mt to $520/mt, CFR.
With the confirmation of the restart of the blast furnace #3 of ArcelorMittal Tubarão on October 25, prices in the merchant slab market are expected to be reduced over the next months, as the current supply deficit of 1.2 million mt per year will gradually change to a surplus of 1.8 million, when the unit achieves full capacity.
With a large volume of slab exported during the fourth week of the month, expectations are now for a small increase in October from the 419,600 mt of slab exported from Brazil in September.