The reference price for Brazilian slab exports has risen to $515/mt FOB, its highest since February 2025.
This compares to $503/mt last week, $498/mt the week before, and $490/mt three weeks ago, following stability at $485/mt throughout December 2025.
Sources indicated that the rise is due not only to ongoing negotiations between Brazilian and US authorities regarding US import taxes, but also to the depreciation of the US dollar against the Brazilian real, which has already fallen by 5 percent in 2026.
Expectations among exporters are for small increases in the weeks ahead.
Exports of Brazilian slabs in January are now believed to have fallen from December’s 762,400 mt, as recent shipments have decreased.