CIS-based slab producers have managed to increase their export deal prices once again, both in the Black Sea/Azov Sea region and also in the latest transactions in Asia too. The main factors supporting the uptrend are the positive sentiment in the flats segment and a lack of slab allocation.
According to sources, the latest slab deal to Turkey was closed at around $710/mt CFR for a regular lot for April shipment, signalling an increase of at least $30/mt over the past two weeks. The previous offers were at $680/mt CFR from the CIS and slightly below. “We are now talking about $920/mt ex-works and even up to $960/mt ex-works for HRC in Turkey, and so the higher slab levels are also not surprising,” a source told SteelOrbis. Current workable prices for ex-CIS slabs are at $670-680/mt FOB in the Black Sea region, and this level was previously achieved in sales of 70,000-80,000 mt to Italy at around $700/mt CFR.
In the Far East, the latest 40,000-45,000 mt slab sale from Russia was concluded to Southeast Asia at $680/mt CFR last week, up from the previous $655/mt CFR closed earlier to Taiwan. Currently, the supplier is not in the market given the slow business in Asia due to the long holiday, though it is planning to return with $700/mt CFR and even higher offers for slabs.
The SteelOrbis reference price for imported slabs in Asia has been settled at $680/mt CFR, up by $20/mt from last week.
