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.