Brazil’s slab exports declined sharply in March, falling 63% month-on-month to 297,600 tons, according to figures released by Secex.
Exports to the United States dropped significantly, from 536,900 tons in February to 238,800 tons in March, while ArcelorMittal Tubarão reported no shipments to the U.S. during the month.
Industry sources indicated that production was redirected to the domestic market, driven by stronger demand from local rolling operations, particularly from Companhia Siderúrgica Nacional and Usiminas.
Meanwhile, Ternium exported 238,800 tons of slabs to the U.S. at $594 per ton FOB, while shipments were also made to European destinations. At the same time, Usiminas imported 19,800 tons of slabs from Vietnam.
Export volumes are expected to recover in April, as some shipments were postponed.
VietnamSteel by Hoa Sen Group
