According to sources, the reference price for the export of slabs from Brazil is now $550/mt, FOB conditions for the basic commercial grades, for the first shipments of September.
Such price compares to $580/mt last week, under the same conditions, for the last shipments of August.
At least one deal was effectively closed at $550/mt during the week.
Market players are not expecting significant declines from $550/mt for the rest of the negotiations for shipments in September.
In May, Brazil exported 359,600 mt of slabs, in average at $679/mt, and imported 126,000 mt of the product at $510/mt.
Preliminary numbers from customs remain pointing to a higher volume of slabs being exported in June, while a slab import of 48,000 mt at $510/mt, and another of 38,500 mt at $520/mt, FOB conditions, have cleared customs so far this month in Brazilian ports.