Prices for imported slabs have increased in Asia amid higher offers from major suppliers, the ongoing lack of availability, and the continuing gradual uptrend in the HRC market.
Offers from Asian sellers have been heard mainly at $470-475/mt CFR to China and Southeast Asia, while some suppliers are insisting on $475-480/mt CFR. There have been reports of active negotiations in China at $470-475/mt CFR, with a rumour about a deal signed at this level, but no further details were disclosed by the time of publication. As SteelOrbis reported earlier, in October some tonnages of imported slabs were traded to China at $465/mt CFR. “This [$470-475/mt CFR] is what you can get. All depends on whether you need to buy or not,” an Asian source said. Chinese traders have been interested in buying, taking into account the continued increase in their local HRC market.
Demand for imported slabs in Taiwan has been weak recently, taking into account maintenance at re-rollers in the December-January period.
The uptrend has continued in the HRC segment in Asia with higher prices for Chinese coils and tight supply in the market. At the moment, the tradable level for SAE1006 HRC in Vietnam is at $530-535/mt CFR, up by $5/mt from last week.
The SteelOrbis reference price for imported slabs in Asia has been increased by $5/mt to $470-475/mt CFR.
