Prices for ex-Iran slabs have come down to $400-405/mt CFR Asia this week, SteelOrbis has been informed, while a deal for about 50,000 mt of Iranian slab was closed at $416/mt CFR to this region in the middle of August. The price decline has been quite expected in the market due to falling flat steel prices in the region and the ongoing weakness of demand.
The contract price for Brazilian slabs last week has been reported at $420/mt CFR in Thailand, but SteelOrbis has not received confirmation of this information by the time of publication.
Market sources said that the workable level for slab purchases has moved to a maximum of $420/mt CFR in late August, while previous deals were done at $425-430//mt CFR for Russian and Indian slabs.
Taking into account that HRC prices in Vietnam have touched new lows of $460-470/mt CFR, slab customers have been insisting on additional discounts.
