According to sources, the reference price for the export of slabs from Brazil is now $525/mt, against $555/mt last week, FOB conditions for the basic commercial grades, for the last shipments in September.
Sources have commented that the lower price is now “dangerously closer” to the production costs of the Brazilian slabs producers, consequently affecting their margins.
At least one such deal was effectively closed at $525/mt.
In June Brazil exported 413,400 mt of slabs, in average at $660/mt, and imported 76,700 mt of the product at $469/mt, both FOB conditions.
Preliminary numbers remain pointing to a far higher volume of slabs being exported from Brazil in July, while so far in the month one cargo of the product was imported, 35,000 mt at $516/mt, and another one of 45,000 mt at $508/mt, both FOB conditions.