CIS-based steel slab exporters have managed to increase their prices for December production in fresh deals, to Turkey specifically. The workable prices have moved up by $20/mt as compared to the level of most deals closed in late October. The latest transactions correspond to $355-360/mt FOB Black Sea and, moreover, higher prices are targeted in the ongoing negotiations.
Russian mills were active in Turkey last week with one sale fixed at slightly above $360/mt CFR, while the most recent bookings were closed at $370-375/mt CFR, SteelOrbis has learned. A Ukrainian supplier is offering $380-385/mt CFR for December production with bids reported at around $10/mt lower. Firm scrap prices and the rebound in Turkey’s HRC prices have been the key reasons for the uptrend in the slab segment also.
In the Baltic region, no fresh offers were reported in the market as the supplier has decided to take a break after closing the November production sales at $335-340/mt FOB a couple of weeks ago. According to the sources, the producer will have some scheduled maintenance at the beginning of next year, which will result in a somewhat shorter slab allocation.
In the Far East, slab prices from Russia increased by $10/mt to $380-390/mt CFR or around $360-365/mt FOB for December-January shipments. The uptrend was supported by China still being active in purchases with a deal closed last week at $385/mt CFR. In addition, prices for HRC in Southeast Asia have increased by a certain margin.