A source from a Brazilian trader told SteelOrbis that a range of $385/mt to $390/mt, FOB conditions, is the new reference price for the country’s export of slabs of the basic commercial grades, against $350/mt to $360/mt two weeks ago.
A second source, from a slab producer, informed that $360/mt is actually the minimum price considered today for such exports, but conceded that there is an ongoing upward trend for slabs prices, adding that the price level could effectively reach $390/mt in the short term.
During October, for price deals probably closed in August, Companhia Siderurgica do Pecem (CSP) exported slabs at $322/mt, ThyssenKrupp CSA at $349/mt, ArcelorMittal Tubarao at $357/mt and Gerdau Acominas at $336/mt, all FOB conditions.
Meanwhile, the Brazilian steel producer CSN imported from Iran 52,000mt of slabs at $330/mt, FOB conditions, in September and October.
A source linked to Usiminas confirmed that the company is importing slabs from Russia to feed rolling operations at their Cubatao plant, in the state of Sao Paulo, which had its crude steel production suspended earlier this year.
Cubatao is also being fed with slabs from compatriots ThyssenKrupp CSA and Companhia Siderurgica do Pecem (CSP).