Slab of the basic commercial grades are being negotiated in Brazil for export in a FOB price range of $550/mt to $555/mt, a local exporter told SteelOrbis.
The price compares with a range of $540/mt to $550/mt FOB last week, in an uptrend reflecting the shortage of material for short-term supplies, as producers are negotiating the supply for May and June.
The tax barriers to be announced by the US government next week are not likely to include slab or billets, the source said. “It would be like shooting their own foot,” he added, as the US has a shortage of domestically-produced semi-finished steel. In 2017, the US imported 2.44 million mt of Brazilian slab.
In January, Companhia Siderurgica do Pecem exported slab at $447/mt, Ternium Brazil exported at $481/mt, and ArcelorMittal Tubarao exported at $486/mt, all FOB conditions, with price deals probably closed in November 2017.