Slab prices in the Asian market have increased sharply in early December, following some sales at higher levels in the second half of November and the uptrend in the Asian hot rolled coil (HRC) market.
The SteelOrbis reference price for slabs in Asia has added $15/mt over the past week to $410-420/mt CFR. According to sources, the latest contracts for import slabs have been concluded at $400-410/mt CFR in Taiwan over the past two weeks. This week, offers for ex-CIS material have increased to $420/mt CFR Asia. “I don’t think that anyone is ready to buy [at levels above $410/mt CFR] now. Following the recent tariffs renewal in the US, we stopped buying,” a source from Taiwan said. There have been no reports of fresh firm offers of slabs from Brazil to Asia, but sources have assessed the price at $415/mt CFR.
HRC prices surged in Asia in November. Ex-Taiwan HRC offers have increased by $20/mt from last month to $460/mt FOB at the moment, sources said, but demand has declined somewhat. Offers of HRC from India, South Korea and Japan to Vietnam have been at $470-480/mt CFR and even higher from some suppliers, but the workable level is still at $465/mt CFR, the same as late last week.