Prices for import slabs in Asia have increased in early March as suppliers have been bullish, seeing an improvement in the flat steel market. But most Asian customers are reluctant to purchase at the moment, already having good stocks or preferring to watch the market.
Most offers for ex-CIS and ex-Asia slabs have been reported at $700-710/mt CFR to Southeast Asia, while last week they were mainly at $695-700/mt CFR. No new bookings have been reported over the past week. “We have enough material. Suppliers are asking higher now, but for us the last prices were $675-680/mt CFR. We are not in the market now,” an Asian importer said. According to another market source, though buyers are mainly in a wait-and-see mood, it will be hard to find prices below $690-695/mt CFR.
HRC prices in Vietnam, the indicator for the import HRC market in Asia, moved up to $740-745/mt CFR last week and this week negotiations are expected at $750/mt CFR, but “this is still not very good,” a local source said.
The SteelOrbis reference price for import slabs in Asia has moved up by $10-20/mt over the past week to $690-700/mt CFR.
