Brazilian slab exports fell 63 percent in March from the 749,200 metric tons (mt) reported a month earlier to a March total of 297,600 mt, according to data released today by Secex, the foreign trade secretariat of the Ministry of Development, Industry and Foreign Trade.
Secex data shows exports to the United States fell from 536,900 mt. tons in February to 238,800 tons for the whole of March, noting that ArcelorMittal did not export to the US in March, compared with a total of 249,100 tons recorded for February.
Sources connected to exporters told SteelOrbis that local slab production was redirected to the domestic market, mainly to support the growing rolling activities of CSN and Usiminas. They added that some export volumes will be carried forward into April, so the total volume should be higher than in March at the end of the month.
In March, Ternium exported 238,800 tons of slabs to the US at $594 per tonne FOB, while ArcelorMittal Tubarão exported 31,700 tons at $473 per tonne to France, and 27 100 tons at US$477 per tonne to Germany, FOB.
Meanwhile, Usiminas imported 19,800 tonnes of slabs at US$468 per tonne from Vietnam, also FOB, Secex said.
