According to sources, Brazilian producers have concluded their slab sales for shipment in March during the last two weeks.
The last of such deals were reportedly closed in a range of $670/mt to $690/mt, FOB conditions for the basic commercial grades. The negotiations for shipments in April have already started, now having $670/mt as a guideline.
The first deals for Brazilian slab export shipments in March were closed in the $710/mt to $715/mt price range, subsequently reduced to a range of $690/mt to $700/mt, in a decline reflecting chiefly lower HRC prices in the US.
In December, Brazil exported 466,100 mt and imported 27,400 mt of slab.
Preliminary numbers from customs remain pointing to a higher volume of exports in January, while an import of 25,000 mt of the product was registered during the first four weeks of the month.