A source linked to a Brazilian steel producer told SteelOrbis that slab export deals remain closed at prices around $430/mt, CFR conditions for ports in the US East coast, the same price over the last three weeks, while exports to Europe remain traded at $435/mt CFR, also stable over the period.
Producers maintain expectations of higher prices in the short term, to reflect increased production costs, chiefly those linked to iron ore, coal and coke prices.
In December, Brazil exported 510,000 mt mt of slab, against 480,100 mt in November. The US was the main destination, 499,500 mt, of which 242,300 mt supplied by Ternium at $424/mt, 154,100 mt by Pecem at $357/mt and 103,100 mt by ArcelorMittal Tubarao at $406/mt, all FOB conditions, different quality grades and price deals probably closed in October. In December, Gerdau shipped 7,400 mt of slab at $300/mt to Singapore, while Tubarao shipped 3,100 mt at $285/mt to China, both FOB conditions.