Ex-CIS steel slab prices have been falling within the past couple of weeks, under pressure from the lowering of bids in some destination, but also due to the somewhat increased allocation by some suppliers. Still, prices vary depending on each market and the local flats price situation in every targeted destination.
According to sources, around 50,000 of slab has recently been sold to Latin America at slightly below $650/mt FOB. Most recent confirmed sales to Turkey have been closed from Russia at around the same FOB level or at $680-685/mt CFR, but earlier this month. The new workable level in Turkey is assessed at $620-630/mt FOB with estimated freight of $30-35/mt. The key reason is the continuing downturn in Turkey’s HRC segment, the pressure from the crashing lira, and the overall dull business activity in the flats segment.
In the meantime, in Europe, the price situation for slabs has been relatively better as compared to Turkey. Russia’s Baltic region-based steel producer has recently sold around 30,000 mt of slabs at $650/mt FOB, while other sellers report $660-670/mt FOB levels are achievable for sheet slabs. Some much higher sales levels have been reported in deals from Ukraine to Europe, but the information has not been confirmed by the time of publication.
