Offer prices for import slabs in Asia have gone up by another $50/mt over the past week, trying to catch up with the rapidly rising HRC market in the region. Bids from Asian customers have improved as well and new deals are expected at higher levels.
Suppliers’ price idea for slabs is $950/mt CFR in Asia, rising by $50/mt compared to the previous price reported a week ago. Some traders have reported negotiations at above $900/mt CFR, but no deals have been reported so far. “Bids are at $900/mt CFR. But suppliers don’t want to sell at this level as HRC has exceeded $1,000/mt CFR,” a local source said. Customers both from Southeast Asia and China are ready to pay $900/mt CFR and slightly above at the moment.
Slab prices are still lagging behind HRC prices, and so additional increases are expected in the future.
Import prices for HRC in Vietnam have increased to $1,050-1,060/mt CFR today, May 11, surging by $90/mt compared to an assessment a week ago.
The SteelOrbis reference price for import slabs in Asia has jumped to $920-950/mt CFR, up by $70/mt from last week.
