According to sources, the first negotiations for Brazilian slab exports for shipments in February remain framed by $650/mt, FOB conditions, the same price for the last deal closed for a shipment in January.
A source linked to an exporter mentioned that he believes that prices should increase during the negotiations, due to higher HRC price in most regions, including the US and South America.
In November, Brazil exported 551,000 mt of slab, in average at $589/mt, FOB conditions, against 710,700 mt at $634/mt in October.
In November, Ternium exported 276,100 mt of slab at $633/mt to the US, ArcelorMittal Tubarão exported 89,900 mt at $539/mt to the US, 50,900 mt at $550/mt to Belgium, 39,200 mt at $521/mt to Canada and 19,600 mt at $522/mt to France, while ArcelorMittal Pecem exported 37,300 mt at $549/mt to the US, and Gerdau exported 29,200 mt at $588/mt to Mexico and 8,800 mt at $564/mt to the US. Such prices were probably closed in September.
In November, no slab import has cleared customs in Brazil, against 65,900 mt at $545/mt in October, also FOB conditions.