A source linked to a Brazilian steel producer told SteelOrbis that slabs exports to the US are being traded in a range of $370/mt to $380/mt, against $360/mt to $370/mt last week, both CFR conditions for the basic commercial grades.
According to the source, the price increase reflects higher FOB prices derived from strong demand from the US over the last week, while freight rates were stable. The source mentioned that offers to Europe are roughly in the same price range as in the US.
In October, Brazil exported 562,700mt of slabs, against 367,400mt in September.
Preliminary indications by the local customs point to a reduction, in November, from the volume of slabs exported from Brazil in October.