According to sources, the reference price for the exports of slabs from Brazil is $530/mt, FOB conditions for the basic commercial grades, stable from August 21.
This price remains as the reference for deals related to shipments in November.
The Brazilian slabs producers have commented that despite representing a $10/mt increase from two weeks ago, the new price remains close to the local average production cost estimated by analysts at $500/mt. They argue that even at $530/mt, their margins are not sustainable in the long term.
In July, Brazil exported 954,600 mt of slabs while importing 185,400 mt of the product.
For August, both export and import volumes are expected to decline from July.