Brazilian slab export prices down on fears for early US quota exhaustion

Export prices for Brazil-origin slab went down for a second consecutive week in the period ended Friday May 17, with buyers in the United States heard to be declining offers on fears that their country’s annual quota for semi-finished steel imports will be almost completely taken up by July or early August.

Fastmarkets’ weekly assessment of the price for Brazil export slab dropped to $510-520 per tonne fob on May 17, from $520-540 per tonne fob in the previous week. Brazilian producers were allowed to export semi-finished products to the US up to an annual quota of 3.50 million tonnes, without being subject to the 25% tariff imposed after the country’s Section 232 investigation. Each quarter, shipments cannot surpass 30% of the annual quota. After...

Published

Felipe Peroni

May 17, 2019

19:20 GMT

São Paulo