Brazilian slab export deals to the US are now being closed at prices around $440/mt, against $430/mt last week, CFR conditions for ports in the US East coast, while exports to Europe have also increased by $10/mt to $445/mt, also CFR conditions for the basic commercial grades.
The producers maintain expectations of further price increases, reflecting not only increased production costs, but also increased demand, chiefly from the US.
In December, the US was the main destination of the Brazilian slab (499,500 mt), followed by Singapore (7,400 mt) and China (3,100 mt).
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.
