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Tight supply coupled with the Middle East conflict has driven up freight rates, causing Brazilian slab prices to rise.

Category: Blog

Time:2026-03-16

As of the week ending March 13, Brazilian billet prices continued to rise, driven by soaring freight rates and tight supply amid the Middle East conflict. This week, FOB export prices for billets at major ports were assessed at USD 565–575 per ton, up USD 10–15 per ton from the previous week. ArcelorMittal is offering cargoes for shipment in May–June, but supply remains extremely limited, reserved for only a select group of buyers. All sources confirmed this week that Brazilian billet supply is tight, deals are hard to strike, and freight rates have risen significantly. ArcelorMittal’s attempts to secure transactions this week came to naught, primarily because its quoted prices were higher than those of competing sources in Asia (USD 505–510 per ton FOB Beijing, USD 520 per ton FOB Taiwan, China). However, compared with the additional tariffs imposed by the U.S. on Chinese products, Brazil still enjoys a competitive edge. Producers remain confident about further price increases, with expectations that the next round of quotes will reach USD 580–590 per ton. Market attention is now focused on Ternium’s DRI-EAF billet project at its Pesquería plant in Mexico; once commissioned mid-year, the facility is expected to no longer rely on Brazilian billets, potentially reshaping the market landscape. Going forward, Ternium’s internally shipped Brazilian billets destined for Mexico may eventually be made available to the broader market, intensifying competition with ArcelorMittal.

　　As of the week ending March 13, Brazilian billet prices continued to rise, driven by soaring freight rates and tight supply caused by the conflict in the Middle East. This week, the FOB export price for billets at major ports was assessed at USD 565–575 per ton, up USD 10–15 per ton from the previous week.

ArcelorMittal is offering cargoes for shipment in May–June, but supply remains extremely limited and is reserved for a small number of buyers. This week, all sources confirmed that Brazilian billet supply is tight, deals are hard to strike, and freight rates have risen significantly. ArcelorMittal’s attempts to secure transactions this week came up short, mainly because its quoted prices were higher than those of competing sources in Asia (Beijing FOB at USD 505–510 per ton, Taiwan FOB at USD 520 per ton). However, compared with the additional tariffs imposed by the U.S. on China, Brazil still enjoys a competitive edge. Producers remain confident about further price increases, and they expect the next round of quotes to reach USD 580–590 per ton. Market attention is focused on Ternium’s DRI–EAF billet project at its Pesquería plant in Mexico. Once commissioned mid-year, the facility is expected to no longer rely on Brazilian billet purchases, potentially reshaping the market landscape. Going forward, the Brazilian billets currently shipped internally within Ternium to Mexico may eventually be made available to the broader market, intensifying competition with ArcelorMittal.

Keywords: Tight supply coupled with the Middle East conflict has driven up freight rates, causing Brazilian slab prices to rise.

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Tight supply coupled with the Middle East conflict has driven up freight rates, causing Brazilian slab prices to rise.

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