Slab prices in the Asian market have remained under pressure over the past week and touched another low. Demand from China has slowed down after large tonnages were booked earlier, while at the same time some rare inquiries have been heard outside China. Though there are some signs of a HRC price rebound, the likelihood of a similar development in the slab segment in the near future is questionable.
The deal price level for slabs in Asia has declined to $335-340/mt CFR compared to $345/mt CFR registered last week, according to SteelOrbis’ information. A deal for imported slabs (about 30,000-40,000 mt) has been heard at $338-340/mt CFR Taiwan. Sources reported that the latest bookings of ex-CIS and ex-Brazil slabs to China have been at $340-345/mt CFR early this month.
Some customers said that it is possible to get $330/mt CFR for slabs from some suppliers, but taking into account reduced demand for higher value-added steel products like CRC and HDG in the region and lower capacity utilization at rolling lines, demand for slabs has still been low.
The HRC price level in Vietnam has increased on Monday, April 13, as a 30,000 mt booking of ex-India coils has been disclosed at $390/mt CFR, $10-20/mt above the deals of ex-Russia HRC reported last week. Nevertheless, “demand for flats like CRC and GI is the most important thing now,” an Asian slab importer said.
