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Brazil slab exports rise by 20pc in 2025

  • Market: Metals
  • 07/01/26

Brazilian slab exports surged by 19.6pc to 7.29mn metric tonnes(t) in 2025, supported by volumes to the US, customs data show.

Slab is a semi-finished steel product used in rolling mills to make hot-rolled coils and plates, among other flat products.

Brazilian mills shipped 4.83mn t of slab to the US, up by 12pc from 2024, defying market expectations for a decline following a 50pc tariff on all US steel imports that took effect on 4 June. Sellers have absorbed some of the higher costs by lowering prices to secure deals, sources said.

US tariffs weakened Brazil-Canada slab trade because lower US demand for finished Canadian steel reduced Canadian demand for slab. Shipments from Brazil to Canada fell last year by 85.5pc to 56,982t.

Brazilian mills turned to alternative markets to reduce their dependence on US trade. As a result, exports to Europe and other South American countries increased.

Mexico imported 473,559t of Brazilian slab throughout the year, up by 56.8pc from the same period in 2024. Brazilian slab producers tripled shipments to Argentina to 334,030t in 2025.

Exports to France more than doubled to 290,917t from 122,121t in 2024, shipments to Poland jumped six-fold to 246,226t.

By Isabel Filgueiras

Brazilian slab exportst
Country20252024Difference±%
US4,832,6734,311,998520,67512.1
Mexico473,559301,958171,60156.8
France290,917122,121168,796138.2
Poland246,22636,441209,785575.7
Argentina334,03095,581238,449249.5
Canada56,982393,702-336,720-85.5
Peru151,99863,32488,674140.0
Total7,293,0716,096,1261,196,94519.6
Brazil's ministry of development, industry and foreign trade data compiled by Global Trade Tracker
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Calgary, 8 January (Argus) — Canadian exports to the US, as a percentage of all exports from the country, have fallen to their lowest level since May 2020, according to new trade data. About 67pc of Canadian goods were exported to the US in October, down from nearly 73pc in October 2024, Statistics Canada said on Thursday. Canadian exports to the US peaked at a 79pc share in February, but that is likely a consequence of hurried trade occurring before tariffs threatened by US president Donald Trump were to take effect. Canada was among Trump's first targets upon taking office earlier this year, prompting politicians and Canadians at large to reexamine their trade relationship with their neighbour to the south and deepen trade relationships elsewhere. Prime minister Mark Carney wants to double Canada's non-US exports over the course of the next decade. Exports to the US fell to C$44bn ($36bn) in October, down from C$47bn in the same month 2024. Canada meanwhile imported C$39bn worth of goods from the US in October, down from just under C$41bn a year earlier. Canada's resulting trade surplus with the US shrank to C$4.8bn from C$6.7bn across the same period. Higher oil exports to China, and less to the US, contributed to this change. Canada also exported more gold with Statistics Canada highlighting the UK as a key destination. Canada's exports to the UK rose by 91pc across the same period to C$5.9bn, while exports to both the European Union and China rose by about 18pc to C$4.2bn and C$3.3bn, respectively. On a year-to-date basis, Canada exported C$467bn worth of goods to the US through the first 10 months of 2025, lower by 4pc compared to the same period in 2024. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Mexico inflation slows to 3.7pc in Dec

08/01/26
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08/01/26

Mexico inflation slows to 3.7pc in Dec

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North EU HRC futures firming on CME

07/01/26
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07/01/26

North EU HRC futures firming on CME

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Nickel prices hit 15-month high on robust sentiment

07/01/26
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07/01/26

Nickel prices hit 15-month high on robust sentiment

Beijing, 7 January (Argus) — Nickel prices on trading exchange platforms hit new highs on 6 January, bolstered by robust sentiment on the back of macroeconomic developments and potential changes to Indonesia's mining plans. The London Metal Exchange (LME) nickel prices hit $18,045/t on 6 January, up by 7pc from a day earlier and exceeding $18,000/t for the first time in 15 months. Prices started to climb from $14,430/t on 17 December 2025, surging by 20pc on 6 January in just 12 trading days. Shanghai Futures Exchange (SHFE) nickel prices hit their 8pc daily limit on 6 January as well. Nickel prices have been driven by rising copper prices. Copper prices surged above $13,000/t to hit a new high because financial investors were concerned over tight global availability of copper refined metal stemming from the US' capture of Venezuelan president Nicolas Maduro . The metals sector could continue on an uptrend if geopolitical tensions escalate further, driven by risk-averse sentiment. End-user demand is not the major driver for the nickel price surge, but the increase in nickel prices have boosted prices of nickel downstream products. Argus -assessed prices for stainless steel 304 2.0mm cold-rolled coil rose to 13,400-13,500 yuan/t ($1,914-1,929/t) on 7 January from Yn12,800-12,900/t ($1,829-1,843/t) on 18 December 2025. Demand strengthened slightly because end-users were concerned about further increases in stainless steel prices. A major Chinese stainless steel mill raised its ex-works prices by Yn100/t on 23 December 2025 and by Yn300/t on 5 January, reflecting a rise in production costs due to higher nickel prices. Most market participants expect the nickel price outlook in 2026 to be steady from 2025 because they do not anticipate significant changes in supply and demand fundamentals. The average nickel price was $15,349/t in 2025, down from $17,049/t in 2024 because of an increase in market supply, according to Argus data. But price upsides are possible this year, since major producer Indonesia may introduce policies that could reduce supply or increase production costs. Indonesia could also cut its nickel ore work plan and budget (RKAB) to 250mn t in 2026 from around 379mn t in 2025, market participants said. This potential cut comes despite expectations that Indonesian nickel ore consumption will increase to around 330mn wet metric tonnes (wmt) in 2026, up by 11pc from 2025, Argus' estimates show. Indonesia's trade ministry on 17 December also issued a ministerial regulation on procedures for setting the export benchmark price (HPE) and reference price (HR) for mining and metallic products. This has renewed market discussions that Indonesia may again explore the possibility of such tariffs, putting upward pressure on nickel prices. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Mexican Jan-Nov steel exports to US down 30pc

06/01/26
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06/01/26

Mexican Jan-Nov steel exports to US down 30pc

Houston, 6 January (Argus) — Mexican steel exports to the US fell by 30pc to 1.46mn metric tonnes (t) between January-November amid the ongoing US global steel tariffs. The US in June 2025 imposed a 50pc tariff on all steel imports, with the exception of imports from the UK, which are subject to 25pc tariffs. The US was formerly Mexico's largest steel buyer. Mexico's total steel exports fell by 18pc to 2.25mn t through November compared with the same period of 2024. Mexico turned more exports to Canada and Guatemala, with those countries' January-November imports from Mexico rising by 67pc year-over-year to 177,000t and 57pc to 96,000t, respectively. Steel imports to November fell by 15pc compared with the same period of 2024 to 9.7mn t ahead of Mexico's imposition of increased steel tariffs on non-trade treaty countries on 15 December. Imports from the US were steady at 3.6mn t, while imports from Japan fell by 9pc to 1.54mn t and from South Korea by 17pc to 1.52mn t over the same period. Mexico's January-November steel production slipped by 9pc year-over-year to 15.47mn t. The most-produced products were rebar, hot-rolled coil (HRC) and hot-dipped galvanized (HDG). January-November consumption also extended a nearly two-year slide, falling by 10pc year-over-year to 23mn t. Mexico's most-consumed steel products were HDG, HRC and cold-rolled coil. By Marialuisa Rincon Mexican finished steel YTD 000s of metric tonnes, except ±% Nov-25 Nov-24 Difference ±% Production Rebar 3,455 3,554 -99 -2.8% Hot-rolled coil (HRC) 3,082 3,447 -365 -10.6% Hot-dipped galvanized (HDG) 2,869 3,145 -276 -8.8% Total* 15,468 16,898 -1,430 -8.5% Consumption HDG 4,125 4,252 -127 -3% HRC 4,027 4,706 -679 -14.4% Cold-rolled coil (CRC) 3,839 4,527 -688 -15.2% Total 22,993 25,597 -2,604 -10.2% Imports by country US 3,597 3,591 6 0.2% Japan 1,539 1,686 -147 -8.7% South Korea 1,526 1,827 -301 -16.5% Imports by product Alloyed 1,804 1,680 124 7.4% HDG 1,423 1,547 -124 -8% CRC 1,178 1,657 -479 -28.9% Total 9,774 11,440 -1,666 -14.6% Exports by country US 1,463 2,082 -619 -29.7% Canada 177 106 71 67% Guatemala 96 61 35 57.4% Exports by product Seamless tube 599 636 -37 -5.8% Wire 272 295 -23 -7.8% Tube with seams ≤ 406.4 mm 238 304 -66 -21.7% Total 2,248 2,741 -493 -18% Source: Canacero Totals include other products than those listed in this spreadsheet. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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