Steel slab prices from the CIS have increased compared to mid-February levels with the support of stronger scrap prices, the positive situation in China and some sizeable demand coming from distant markets.
In the second half of February, according to sources, there were a few deals done to Turkey within $680-685/mt CFR, which corresponded back then to around $660-670/mt FOB or slightly above. The most recent sale to Turkey has been reported as having been closed from Russia at $695/mt CFR with around $20/mt estimated freight. Currently, Turkish buyers report there are no firm offers for slabs from the CIS as the producers there say there is no available allocation for May. “The HRC market is hot and they either prefer to wait or to roll their slab into their own flats,” a Turkish producer stated, shared his opinion. Some sources said the indicative prices for slabs from the CIS to Turkey have been voiced at $710/mt CFR but no official offer has been made.
In the meantime, a Ukraine-based mill has sold 40,000-60,000 mt of slab to Italy at $700/mt CFR, with the freight estimated at around $25-27/mt. Some sources have reported a slab export sale from Russia close to $700/mt FOB, supposedly to Latin America. The level is considered to be above the current market price, and so sources assume it may include some grade extras.