Offer prices for imported slabs have remained stable since the most recent hike in the Asian slab market. Demand has been weak as most buyers have taken a wait-and-see stance. The uptrend in the flat steel segment in the region will likely continue to support slab prices.
Most offers for Russian and Asian slabs have been coming to Southeast Asian buyers at $840-860/mt CFR, almost in line with the level a week before. Buyers’ price indications have been reported at $800-805/mt CFR, up by $10/mt in comparison to the previous deal signed to a Taiwanese buyer at $790-795/mt CFR earlier this month. But this price level has been assessed as being too low for most sellers.
Market participants are waiting for a new price level for Iranian slabs, which are expected to increase significantly compared to the previous levels in early April.
The uptrend in the HRC segment in Asia is not fading, which will push customers to accept higher slab prices in the coming weeks, sources believe. The import HRC price level in Vietnam has reached $930-940/mt CFR, up by $10-20/mt from last week and further increases are awaited amid relatively tight supply.
The SteelOrbis reference price for import slabs in Asia has increased by $10-20/mt over the past week to $800-820/mt CFR.