Asian slab exporters have become the main suppliers of slabs to Europe lately. After a deal reported earlier this week for ex-Vietnam slabs, contracts have been concluded by Chinese and Indian sellers. Other suppliers are less present in the market.
A deal for 40,000 mt of ex-China slabs from one of the major mills has been signed at $650/mt CFR to Europe, which followed an earlier transaction for at least 30,000 mt of ex-India slabs at $620/mt CFR. As a result, together with the earlier reported ex-Vietnam deal at $580/mt FOB, European customers have purchased a total of 100,000 mt of slabs from Asia lately in the range of $620-650/mt CFR. The latest import slab offers from Asia to the EU have been reported at $650/mt CFR.
Brazilian slab sellers have been focusing of sales to the US lately, therefore their offers to the EU are high - $670-680/mt CFR. The Russian mills, which are not under sanctions and can still ship semis to Europe under quota until 2024, have been offering $580-600/mt CFR However, no information regarding the sales have been reported, despite the considerable discount if compared with the non-toxic origins.
