On June 1, SteelOrbis reported $395-415/mt FOB Brazilian port. Ex-Brazil billet prices are reportedly now at $390-405 FOB Brazilian port. The present price represents a decline of $5/mt from the bottom of the range in late May/early July and $10/mt from the top of the same range. According to sources, Brazil billet export pricing has remained steady through the last several weeks in June.
With the recent sideways expectations in the US domestic scrap pricing, continued high capacity utilization rates at US mills that may receive an uptick in the third quarter, and improved global billet pricing, ex-Brazil billet import offer prices are expected to increase $5-10/mt through July, according to a source.