Slab suppliers have been rather active in their offers to Turkey, while buyers have mostly been seeking discounts given the relatively weak hot rolled coil (HRC) segment. In addition, interest in non-Russian origins still exists, although many sources believe there will still be limited demand for Russian origin in Turkey.
Recently, some negotiations have been handled for ex-Asia slab origins. In fact, according to sources, around 30,000-40,000 mt of slab have been booked from Indonesia at around $520-522/mt CFR Izmir, while in the second half of September a sale from the same source was done at around $535/mt CFR. The cargo will be shipped in December.
In addition, ex-Malaysia slab cargoes have been on offer at $545-550/mt CFR depending on the supplier, again for December shipments. These levels are considered too high even for a duty-free origin. “The deals for Chinese HRC have been just now closed at $555-560/mt CFR. There is no way such a slab price could be accepted, only if someone is desperate,” a market source told SteelOrbis. However, there has been talk about a low-priced ex-Malaysia sale to Turkey, which has turned out to be for billet at $518/mt CFR for 3SP material.
Ex-China slab is also available in Turkey, at $530-535/mt CFR for December shipments, while last week the indication stood at $520-527/mt CFR, according to market information.
Buyers report that Saudi Arabia is also in the market with around $525-530/mt CFR for December shipments. There has been talk about a sale last week at around $525/mt CFR Iskenderun, but most sources agree this price is a little too high to be acceptable.
Ex-Russia import slab offers, according to sources, have been reported at $465-480/mt CFR depending on the supplier, with no deals heard so far.