The import slab market in Asia has remained hot, and prices continued to increase as there have been very few lower-priced sources available, and the global market in general still feels shortage.
In particular, a deal for 20,000 mt of ex-Japan slabs has been done to Thailand at $525-530/mt CFR for June shipment. Another contract for 20,000 mt of Indian slabs has been signed also to Thailand at $535-540/mt CFR. This signals about hike from the sizable deals to Indonesia at $510-515/mt CFR for Chinese origin done a week ago. Market sources said that the price level in the recent sales to Thailand, which is equivalent to around $505-515/mt on FOB basis, is still assessed as rather good in the current tight market conditions.
The major Indonesian slab supplier has been offering stable at $545/mt FOB for July shipment with the target sales destination being Europe.
In the European market, there has been a rumour about a sale for Chinese plate grade slabs to Italy at $620/mt CFR, but the price could include some extras. This is in line with the previous deals to this destination done for plate grade at $610-620/mt CFR. The tradable level for HRC grade slabs is standing closer to $600-605/mt CFR.
