Brazilian producers are negotiating slab of the basic commercial grades for export in a price range of $450/mt to $460/mt, FOB conditions, against of a range of $440/mt to $460/mt last week, a local exporter told SteelOrbis.
The source mentioned that deals at $440/mt are not available today, adding that fresh deals, covering deliveries for February 2018 onward, are priced closer to $460/mt, rather than $450/mt, pointing to an upward movement of prices.
Fresh numbers from Brazil’s ministry of industry, foreign trade and services, MDIC, indicate 570,700 mt of slab exports in November, 23.4 percent less than in October, at an average FOB price increased by 9.3 percent to $471/mt.
Companhia Siderurgica do Pecem exported 240,100 mt at $487/mt, Ternium Brazil exported 147,700 mt at $444/mt, ArcelorMittal Tubarao exported 143,400 mt at $481/mt and Gerdau Acominas exported 39,300 mt at $437/mt, all FOB conditions.
The main destinations were the US (195,700 mt), Turkey (110,700 mt), Latin America (89,700 mt), the EU (89,000 mt) and Asia (64,700 mt).