According to sources, slab deals for exports from Brazil are now being heard at $710/mt to $720/mt, FOB conditions for the basic commercial grades.
As some of the Brazilian exporters have already concluded the negotiations for shipments in February, the new range will apply to deals related to the first shipments in March.
The negotiations for the shipments in March are expected to start during the second week of January.
The new range compares to a frame of $700/mt to $710/mt, under the same conditions, for expectations unveiled last week as the base for negotiations for the last shipments in February.
The new range is in line with expectations that slab prices could increase further, considering HRC prices at $1,176/mt in the US.
In December, the Brazilian slabs exports are expected to decline from the 551,000 mt exported in November, while so far only one small volume of imported slab has cleared customs in Brazilian ports, against no slab imports in November.