Import slab prices in Asia decline due to low bids, cheap regional offers

Thursday, 01 July 2021 15:57:15 (GMT+3)   |   Istanbul

Prices for import slabs have gone down in Southeast Asia over the past week due to the recent fall in HRC prices, still low bids for slabs, and the re-emergence of cheap offers from some regional suppliers.

Slab exporters from Malaysia have returned to the market with offers at $860-870/mt CFR, while ex-India slabs have been offered at $870-880/mt CFR, with at least $10/mt discounts possible from this level, according to sources.

The latest offers for ex-Russia slabs have been heard at $900/mt CFR, versus a deal at $920/mt CFR in the second half of June.

Customers from Southeast Asia have been very cautious in signing deals for import slabs, bidding at $850/mt CFR maximum, SteelOrbis has learned.

The SteelOrbis reference price for imported slabs in Southeast Asia has lost $27.5/mt on average over the past week, coming to $860-880/mt CFR.

“As we see a sharp drop in the HRC market, bids for slabs will keep declining,” an Asian trader said. The SteelOrbis reference price for import SAE1006 HRC has fallen by $42.5/mt since last week to $855-920/mt CFR Vietnam, with the midpoint at $887.5/mt CFR this week.

AnastasiaKononenko
Anastasia Kononenko
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I hold a Bachelor's degree in Journalism and Economics from Oles Honchar National University in Ukraine. I have 15 years of experience in the steel media industry, including the past seven years at SteelOrbis, where I lead the Market Intelligence team responsible for coordinating coverage of Asian steel and raw material markets. My areas of expertise also include global markets for billet, slabs, pig iron and HBI, with a focus on market analysis and industry trends.

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