The reference price for Brazilian slab exports is $545/t, FOB terms for major commercial grades, after three weeks of stability at $540/t, according to preliminary data from the Secretaría de Comercio Exterior (SECEX), Brazil's foreign trade secretariat of the Ministry of Industry, Development and Foreign Trade.
A modest increase that brings the reference price back to its highest point since August 2024, analysts attributed to a combination of factors. These include the depreciation of the US dollar against the BRL, expectations of Brazilian producers resuming slab exports to the US after a pause in January and, most recently, shipping disruptions resulting from the conflict in Iran. It is noted that these circumstances do not affect shipments from Brazil to the United States or European countries.
Brazilian slab exporters expect stable or slightly higher export prices in the coming weeks.
SECEX said that slab exports from Brazil in February are expected to exceed the January volume of 410,900 tons. Last recorded price was $550/t, FOB, including quality premiums.
