Following weeks of silence in the European and Turkish import slab markets, CIS-based producers have managed to collect orders for a significant volume overall. In addition, the Chinese market remains active.
Turkish mills, which have been actively negotiating for slabs since last week, have booked sizable volumes from both Russia and Ukraine. According to sources, three lots around 20,000 mt each have been freshly sold at $340-345/mt CFR, while another 20,000 mt batch was traded at the same price range, but around two weeks back. From last week, CIS-based sellers have been testing $360-365/mt CFR, but did not manage to increase the deal price level. Offers ex-Brazil have been at $355/mt CFR, with no acceptance seen in the market. No deals for ex-UK slabs have been fixed yet, with the available allocation remaining at 30,000 mt, SteelOrbis has learned.
Aside from the Turkish market, CIS-based mills have managed to find buyers in Europe. Around 20,000 mt of slabs have been sold from Ukraine to Italy at $345/mt CFR, with a similar level fixed in a deal to Macedonia for 10,000-15,000 mt, sources stated.
Import slab demand remains rather lively in Asia with the latest deals closed from the Black Sea region to China at $355/mt CFR for 50,000 mt last week, SteelOrbis has learned. The most recent bids from Southeast Asia have been reported at $340/mt CFR, which is not attractive for sellers for now.
As a result, mills based in the Black Sea region in the CIS have managed to sell at least 160,000 mt of steel slabs over the past two weeks with the demand recovery seen in the Mediterranean region. Deals have been closed within $325-330/mt FOB, in line with the SteelOrbis daily price assessment.