Workable prices for steel slabs have decreased in Turkey, taking into account the weakening in the flats segment, due to lower demand, financial issues, and the approaching holidays. As a result, not many buyers are in the market, but, still, some negotiations have been finalized.
According to sources, a Russia-based mill closed a 25,000-30,000 mt slab cargo to Turkey last week at $855/mt CFR, while the previous deal was at around $870/mt CFR. Current reasonable offers from both Russia and Ukraine are at $860-865/mt CFR, buyers report.
Offers from India are also heard in the Turkish market at $850-855/mt CFR for early September shipments and may even go lower in deals. However, Turkey does not seem to be interested in buying from India due to size and quality issues. “One of them [Indian suppliers] has only 150 mm slab to offer, which cannot be processed by anyone in Turkey. And none of them cannot provide silicon content-controlled quality, which is required for re-rolling grades,” a local source told SteelOrbis.
Prices from Brazil are considered to be too high for the Turkish market as they are standing at $980-1,000/mt FOB.
It is worth mentioning that in Turkey not many buyers are in the market to buy slabs actively, as two of the three regular buyers have planned maintenance works at their rolling mills around October and are reportedly comfortable in terms of stocks.