Two different Brazilian exporters told SteelOrbis that the slab market remains undefined, as clients abroad are reluctant to accept prices of up to $620/mt, FOB conditions for the basic commercial grades, the reference assumed by the producers in the new round of negotiations for shipments in late June.
According to one of the sources, there are doubts about the temporary exclusion of Brazilian steel from the US Section 232 tariff policy and its impact on future prices.
“We don’t know how long the exclusion will last, and if semis, like slabs and billets, will remain permanently excluded,” the source said.
The other source mentioned that last export slab deal was effectively closed at $595/mt, FOB conditions for the product of the basic commercial grades. Reports from market sources in the US have previously mentioned offers from Brazil in the $600/mt to $605/mt price range, under the same conditions.
