Import slab bookings hit record volume in Turkey with recent deals

Thursday, 31 October 2019 16:42:41 (GMT+3)   |   Istanbul

Hot rolled coil producers in Turkey, who booked large slab lots in the first half of October, have remained interested in further imports of slab.

Brazillian steelmaker CSP has sold 50,000 mt of slabs at $355/mt CFR, while another supplier from the same country, ArcelorMittal Tubarao, has reportedly been in the market with offers of $355-360/mt CFR. Last week, close to 50,000 mt of slabs were sold from Russia at $355/mt CFR, in line with the previous sales price levels. In addition, another CIS-based supplier, according to the sources, has sealed a deal for up to 40,000 mt at $340-345/mt CFR. However, most players consider the level not to be valid today.

Overall, according to SteelOrbis’ estimations, Turkey has purchased over 300,000 mt of steel slabs within October. Moreover, negotiations continue and CIS-based sellers are hopeful for some rebound given the cautious optimism in the HRC and scrap segments. Suppliers report that Turkis buyers are currently ready to accept slab prices of above $350/mt CFR.

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