In all regional slab markets, prices continued to rise in the first half of April, increasing by $15–20 per ton. The highest price was recorded in Brazil at $605/t (FOB).
Brazil
According to SteelOrbis, the reference export price for Brazilian slabs rose by $15 in the first half of April to $605/t (FOB), a two-year high. In March, analysts predicted further price increases due to the depreciation of the U.S. dollar against the Brazilian real.
Slab exports from Brazil are highly volatile. In March, the figure fell by 63% to 298,000 tons, compared to 794,000 tons (+93% MoM) in February. The sharp decline in exports in March (as well as the increase in February) is linked to the dynamics of shipments to the US, which fell to 239,000 tons at $594/ton (FOB) compared to 537,000 tons at $552/ton (FOB) a month earlier. Exports are expected to rise in April, as part of the volume was shifted from March to the following month.
According to SteelOrbis, part of the slabs produced in March was redirected to the domestic market to support the rolling operations of CSN and Usiminas. Reserves for the domestic market remain in place. According to the Brazilian Steel Manufacturers Association (IAB), local mills increased slab production by 12% in February compared to January, reaching 608,000 tons.
With the launch of CBAM, Brazilian slabs offer European importers a significant price advantage over other supplier countries. In March, Brazil exported 32,000 tons of slabs to France at a price of $473/ton (FOB) and 27,000 tons to Germany at $477/ton (FOB). France and Germany accounted for 11% and 9% of exports, respectively.
Turkey
Average FOB Black Sea prices rose to $483/t in early April, up from $478/t at the end of March. The main drivers of this increase were the global trend of rising slab prices and high freight rates.
According to the Turkish Statistical Institute (TUIK), in February, slab imports to Turkey fell by 56% MoM to 133,000 tons. The average import price was $550/ton. For the January–February period, imports fell by 38% year-on-year to 438,000 tons. The largest suppliers during this period were Russia (194,000 tons, -41% year-on-year) and Malaysia (100,000 tons, -51% year-on-year).
At the same time, domestic production has been growing since the start of the year: in February, output increased by 18.6% year-on-year to 1.23 million tons, and for January–February, by 13% year-on-year to 2.55 million tons. As a reminder, by the end of 2025, slab production decreased by 1.2% year-on-year, to 13.9 million tons.
Other markets
In other regional markets, price dynamics also remained upward. Prices for slabs from Asian producers rose sharply amid a supply shortage caused by the withdrawal of Iranian steel semi-finished products from the market. In particular, Indonesian producers of hot-rolled steel are experiencing a shortage of Iranian slabs. Under current conditions, consumers are accepting the price increases with understanding.
Meanwhile, average slab prices in Japan rose by $20 in the first half of April, reaching $500/ton.
It should be noted that in March, all regional slab markets also saw price increases of $15–35 per ton. This was driven by rising demand in the US, Europe, and Southeast Asia, as well as a supply shortage linked to the withdrawal of Iranian steel semi-finished products from the market.
