Prices for import slabs have remained under pressure in the Asian market over the past week as customers have been asking for discounts, seeing a worsening of the situation in the HRC segment. However, only some suppliers have been able to provide discounts, while most prices from large exporters have remained at higher levels.
The SteelOrbis reference prices for imported slabs to Asia have been lowered from the range of $885-925/mt CFR last week to $860-920/mt CFR, losing $15/mt on average.
The wide range of the prices is due to the different levels from suppliers. A Malaysian seller, according to one of the major buyers, has been in negotiations at $850-860/mt CFR in Asia. Rumours indicated that a deal has been done at this level, but this could not be confirmed by the time of publication. Another importer said that the buying indication for ex-ASEAN slabs, from Malaysia specifically, has fallen to $845/mt CFR.
Most market participants agree that demand for slabs in Asia has remained reduced, but the availability of slabs from large prime suppliers has also been limited. Offers from ex-Russia are still not below $920/mt CFR. And since other large Asian exporters have just been assessing the market situation for now, this level is workable for prime grade slabs.
A price indication for ex-Iran slabs from traders has still been heard at $870/mt CFR to Southeast Asia.