A source from a major slab producer told SteelOrbis that the negotiations for the exports of slab of the basic commercial grades are now based on a FOB price of $260/mt, against $240/mt in mid-February.
According to the source, the price is following a historical linkage to the price of HRC in China.
“I will not be surprised if the price reaches $300/mt over the next months,” he said.
“I will not be surprised if the price reaches $300/mt over the next months,” he said.
A downward trend, from a peak of $526/mt in July 2014 down to $230/mt on December 2015, was interrupted on early February when the reference price increased to $240/mt, all FOB conditions.
During February, Brazil exported 337,000 mt of slabs, 14 percent less than in January, at an average FOB price slightly reduced to $238/mt, for price deal probably closed in December 2015.
The main exporters were ArcelorMittal (187,000 mt at $229/mt) and ThyssenKrupp CSA (132,000 mt at $263/mt), while the main destinations were the US (151,000 mt at $255/mt), Indonesia (71,500 mt at $225/mt) and Turkey (54,500 mt at $219/mt), all FOB conditions.