Asian buyers have been cautious in import slab purchases over the past week after an increase in prices. Taking into account higher HRC prices in China, market sources are hoping Chinese customers will resume imports of slabs, but so far bids have not improved much.
The most competitive offers for slabs in Asia have been heard from Malaysia at $470-475/mt CFR in the past week, though there has been no confirmation of any deal being done. Korean slabs have been available at $480/mt CFR and above. Slabs from the Ukrainian producer have been offered since last week at $485/mt CFR. “China is not buying. It is difficult to find a buyer at the moment,” a source said.
As SteelOrbis reported last week, a cargo for slabs from Vietnam was sold to China at $470/mt CFR, while after that Indonesia bought two lots of ex-S. Korea and ex-Vietnam slabs at $480/mt CFR on average.
Buyers from Taiwan are seeing the market price level at $460-470/mt CFR now, according to market reports, and Chinese customers are insisting at the same level.
Better sentiment in Asian HRC prices, after Chinese producers have started to increase both local and export prices, has also provided support for slab prices. The SteelOrbis reference price for imported slabs has remained at last week’s level of $470-480/mt CFR before new deals are reported.
