According to sources, Brazilian producers are negotiating slab export deals for shipments in June at $620/mt, FOB conditions for the basic commercial grades, stable in relation to the reference price for the last shipments of May.
Analysts believe that such price is expected to increase in the short term, reflecting the higher HRC prices in the US, the main destination of the Brazilian slab.
In March, Brazil exported 484,700 mt and imported 72,700 mt of slab. Ternium exported 266,600 mt at $686 to the US, ArcelorMittal Tubarão exported 51,600 mt at $709/mt to the US, 40,600 mt at $648/mt to Spain, 30,000 mt at $717/mt to Mexico, 31,000 mt at $717/mt to Canada, and 29,700 mt at $633/mt to Germany, while ArcelorMittal Pecem exported 26,800 mt at 717/mt to the US and 8,400 mt at $605/mt to South Korea, all FOB conditions.
The imports were by CSN (47,700 mt at $610/mt from Vietnam) and Usiminas (25,000 mt at $526/mt from Japan), also FOB conditions.