Brazilian Slab Export Prices Fall

On July 28, Brazil's slab export assessment price was US$600/ton (FOB), which was on a downward trend compared with US$600-620/ton (FOB) in the previous week.

According to Brazilian market news, last week Brazil’s mainstream slab export price was 600 US dollars / ton (FOB), and even the quotations in North America were the main ones. Due to the current weak demand for slabs in North America, especially in the US market, buyers are not willing to purchase At the same time, some orders failed to be concluded temporarily due to the large price reduction by buyers. Although the U.S. HRC prices stopped falling and rebounded last week, due to the uncertainty of the future price trend, buyers still mainly wait and see. On July 27 last week, the ex-factory price index of hot coil in the Midwest of the United States was 945.5 US dollars / ton, a week-on-week rise or fall of 21.8 US dollars / ton.

Note: USD 600 = RMB 4,278 (according to the RMB/USD exchange rate on July 31)