CIS-based steel slab suppliers have managed to increase their export prices in the most recent deals. At least around 200,000 mt have been sold over the past two weeks to various destinations.
Sizeable orders have been coming from Italy this week and, as a result, a Ukraine-based producer has recently sold up to 85,000 mt of slabs for March shipment at $445-450/mt CFR Italy, SteelOrbis has learned, with freight estimated at around $15-17/mt. In addition, over the past two weeks two cargoes of 50,000 mt each have been sold to Latin America from Russia at $425/mt FOB and $430/mt FOB, respectively. Turkey remains the least paying market, with one deal for 20,000-25,000 mt reported at $430/mt CFR, though it was concluded a week ago. However generally mills do not find this level acceptable and initial offers this week were at $440-445/mt CFR Turkey.
As a result, CIS-based slab exporters have managed to increase their prices in deals by around $10/mt since early January to $425-430/mt FOB and slightly above in the most recent deals. Offers are expected to remain firm as mills are mainly sold out for March shipments. In Asia, the latest workable level is estimated at around $450/mt CFR or around $430/mt FOB Far Eastern ports. Business activity in this part of the world is expected to be quiet for now as China will be on holiday for one week, SteelOrbis understands.