Brazilian producers remain negotiating slab of the basic commercial grades for exports to Europe in a price range of $495/mt to $505/mt, FOB conditions, the same range as last week.
Likewise, no fresh deals are being closed for exports to the US, as buyers wait for the second half of October to resume negotiations. The Section 232 quota for Brazilian slab has been reached for the year, and mid-October orders will arrive when the new quota period begins in 2019.
The last heard reference price for slab exports from Brazil to the US was $530/mt, FOB conditions for the basic commercial grades.
In September, Brazil exported 508,600 mt of slab, with Ternium Brazil exporting 222,200 mt at $608/mt, ArcelorMittal 190,200 mt at $605/mt, and Siderurgica do Pecem 96,100 mt at $580/mt, all FOB conditions with price deals probably closed in July.
The US was the main destination (449,000 mt at $607/mt), while smaller tonnages were shipped to Canada, the UK, Austria, Mexico, South Korea and the Czech Republic.
A source from the ministry of industry, foreign trade and services (MDIC), which is responsible for the statistics, told SteelOrbis that September totals can include some volumes effectively shipped in August, whose shipping documents did not arrive on time at the customs authorities.