LONDON Steel slab exports from Brazil fell by more than 50 percent year on year in May, according to figures from the countrys foreign trade ministry, MDIC.
Shipments totaled 234,303 tonnes last month, down 51.8 percent compared with May 2012 when slab exports reached 486,946 tonnes.
Sources told AMM sister publication Steel First that exporting slab from Brazil is no longer profitable, leading to the drop in volumes.
ArcelorMittal Tubarão, which was a traditional exporter, reduced its slab export levels to between 500,000 and 600,000 tonnes per year from about 5 million tonnes per year in the recent past, an executive said in May (amm.com, May 10).
Of Brazils total steel slab exports in May, 183,203 tonnes went to the United States, down from 215,554 tonnes a year earlier.
Meanwhile, Brazil exported just 5,346 tonnes of billet in May, compared with 39,174 tonnes in the same month last year.
All billet shipments from Brazil were sent to buyers in Spain, according to MDIC.
A version of this story was first published in AMM sister publication Steel First.