Brazilian slab export deals are reportedly being closed at prices around $430/mt, CFR conditions for ports in the US east coast, the same price over the last two weeks, while exports to Europe remain traded at $435/mt CFR, also stable over the period.
With the confirmation that Section 232 tariffs will not be applied to US imports of Brazilian steel products, more deals are expected in the short term for slab exports from Brazil to the US, raising possibilities for the increase of prices, already under pressure by higher production costs, chiefly iron ore and coal/coke related, sources tell SteelOrbis.
Preliminary figures from the local customs point to a stable volume in December from the 480,100 mt of slab exported from Brazil in November.
