Prices for import slabs have remained almost stable in Asia over the past week, but a bullish mood still prevails amid higher prices for HRC in the region.
A small-volume deal for ex-Malaysia slabs has been heard at $700/mt CFR Indonesia, similar to a week ago. Also, about two weeks ago, Taiwanese buyers purchased ex-ASEAN slabs at below $700/mt CFR. “The HRC market prices have increased by $20/mt compared to early March, so $700-705/mt CFR may be workable now for slabs,” an Asian buyer said.
The bid prices from China for import slabs have remained much lower. But a lot of 30,000 mt of Iranian steel slabs in a tender was sold at $592/mt FOB BIK, for April shipment for the Chinese market. Market sources said that there has been no demand in Southeast Asia for Iranian slabs during the past few weeks.
The HRC prices in the Vietnamese market have added $20/mt CFR over the past ten days, coming to $780/mt CFR. In the local Taiwanese market, the highest prices for HRC have reached $780-790/mt ex-works, while the asking price in the export market is $800/mt FOB or just slightly below.
The SteelOrbis reference price for import slabs in Asia is at $700-705/mt CFR, just $2.5/mt lower than last week.