Market sources report that
slab suppliers in
Brazil,
Mexico,
Japan and the CIS have revised their offers upwards due to the upticks in the North and South American and European flat steel markets, particularly in hot rolled coil (
HRC) markets, and amid shortages in
slab markets. Accordingly, import
slab offers to Asia from the countries in question are now standing at $530-550/mt CFR Asian ports, indicating an increase of $10/mt on the high end of the price range since last week.
Meanwhile, ex-CIS
slab offers can be found at $500-510/mt FOB base level, while these offers have gained acceptance from European and American
slab buyers.
Due to tight supply and increasing raw material costs, the upward trend in the
slab markets will likely continue.