Brazilian slab export deals are now closed at prices around $475/mt, against $440/mt last week, CFR conditions for ports in the US East coast. The reference price for European countries is now $470/mt, against $445/mt last week, also CFR conditions for the basic commercial grades.
Sources tell SteelOrbis that the demand from the US is the main factor behind the price increase, adding that increased domestic demand has played a secondary role in the increase.
Preliminary indications from the local customs authorities point to a two-digit increase in January from the 510,000 mt of slab exported from Brazil in December.
