Brazilian slab export prices rose last week due to the increased focus of local producers on the US market before an annual quota is filled.
Fastmarkets' weekly price assessment of steel slab exports from Brazil went up to $540-550 per tonne fob on Friday May 3, from $495-545 per tonne fob in the previous week.Local producers in Brazil were sending almost all of their volumes to buyers in the United States, where demand is reportedly high, and few cargoes were destined for other regions, Fastmarkets heard last week.Brazilian producers are allowed to export semi-finished products to the US up to an annual quota of 3.50 million tonnes, thus avoiding a 25% tariff stemming from the Section 232 investigation. Each quarter, volumes shipped to the US cannot surpass...