Brazilian steel slab exports held steady in August, thanks to rising shipments to Latin American countries.
Slab exports from Brazil inched up to 569,314 metric tonnes(t) in August, up by 1.3pc from a year earlier, according to customs data. Rising sales to Latin American countries compensated for most of market losses in North America.
Shipments to Mexico soared to 69,936t from 26t a year earlier. Exports to Argentina surged to 30,241t from 814t during the same period in 2024.
The US remains Brazil's largest slab buyer despite shipments having fallen there for two consecutive months.
The decline followed the US decision to increase tariffs from 25pc to 50pc on all imported steel as of 4 June.
Brazil exported 351,184t of slab to the US in August, down from 405,515t a year earlier. The US policy spilled over into other markets, halting slab trade between Brazil and Canada.
The Canadian finished steel industry also took a hit from the US tariffs, weighing on Brazilian slab trade. Exports to Canada fell from 60,479t to zero in August on the year. Brazilian slab prices ranged from $460-475/t fob this week, depending on the buyer's region.
| Brazilian slab exports | t | |||
| Country | Aug-25 | Aug-24 | Difference | ±% |
| US | 351,184 | 405,515 | -54,331 | -13.4 |
| Canada | 0 | 60,479 | -60,479 | -100.0 |
| Mexico | 69,396 | 26 | 69,370 | 266,807.7 |
| Argentina | 30,241 | 814 | 29,427 | 3,615.1 |
| Peru | 16,959 | 20,317 | -3,358 | -16.5 |
| Total | 569,314 | 562,070 | 7,244 | 1.3 |
| Brazil's ministry of development, industry and foreign trade data compiled by Global Trade Tracker | ||||
