Brazilian slab exporters remain negotiating shipments in November with their clients in Europe, without an immediate expectation for closing significant deals due to a gap estimated at $40-50/mt between offers and acceptable prices.
According to sources, expectations of higher prices due to a shortage from the Posco plant stoppage at Pohang did not materialize, as the recovery of the plant is occurring sooner than expected.
The base for negotiations remains at $650/mt, FOB conditions for non-US destinations, while most of the sales remain directed to the domestic market, to Usiminas and CSN.
Preliminary figures from customs are pointing to a reduced volume of slab being exported in September, in comparison to the 466,100 mt exported in August.