Reports from market sources in the US have mentioned offers for Brazilian slab exports of the basic commercial grades in the range of $600/mt to $605/mt, FOB conditions.
However, a source in Brazil told SteelOrbis that the reference price currently negotiated to the US has already reached a range of $610/mt to $620/mt, also FOB conditions, although the source conceded that no deal was effectively closed so far in that price range, adding that the last confirmed deal was closed at $595/mt FOB.
The source mentioned that, benefitting from the temporary suspension of the 25 percent import tariff imposed by the US authorities on steel imports, the price of the Brazilian slab is also gaining momentum in countries other than the US.
In March, ArcelorMittal Tubarao exported 181,000 mt of slab at $492/mt, Ternium Brazil exported 149,200 mt at $494/mt, and Companhia Siderurgica do Pecem exported 141,600 mt at $495/mt, all FOB conditions, with price deals probably closed in January.
The main destinations for Brazilian slab in March were the US (219,200 mt), the EU (91,500 mt), Turkey (89,800 mt), Canada (57,500 mt) and Argentina (13,800 mt).
