Asia’s import slab prices end the year higher, but buyers still focus on cheaper origins

Friday, 29 December 2023 14:18:52 (GMT+3)   |   Istanbul
       

Prices for imported slabs in Asia have been corrected up at the end of the year, following rises in HRC prices during December and the relatively limited supply of cheaper origins.

A deal for 30,000 mt of ex-Iran slab has been closed at $480/mt FOB this week from a major mill for shipment in January, according to market sources. The destination of the sale has not been confirmed by the time of publication, but sources believe it is for the Southeast Asian market. The CFR price is estimated at $520/mt CFR. One source said that demand for slabs in Asia has been low over the past month, but the hike in raw material prices and the better situation in China has provided support for slab prices.

Prices for ex-Russia slabs have been assessed at $530-540/mt CFR with no firm offers reported so far, with the main mill in Russia’s Far East region heard to be “sold out for January.”

So, except for Iran, Asian importers have had almost no cheap options, given that regional ASEAN mills have been too bullish. Official offers for Indonesian and Malaysian mills have been at $600-620/mt FOB, but distant markets are targeted. In Asia, regional slabs have been found at lower levels - at $560-570/mt CFR in the case of firm negotiations, but this price is too high for buyers anyway.

The SteelOrbis reference price for imported slabs in Asia has reached $520-570/mt CFR, surging by $20/mt over the past week and by $30-50/mt since early December.


Similar articles

Reference price declines slightly for Brazilian slab exports

31 Oct | Flats and Slab

Ex-Asia slab prices relatively stable, demand remains insufficient

30 Oct | Flats and Slab

Reference price maintains long term stability for Brazilian slabs exports

23 Oct | Flats and Slab

Reference price increases slightly for Brazilian slab exports

16 Oct | Flats and Slab

US slab imports up 13.6 percent in August from July

14 Oct | Steel News

Russia increases HRC export presence, focuses on Turkey and MENA

11 Oct | Flats and Slab

Ex-ASEAN slab suppliers finally return with much higher new offers, buyers not ready

11 Oct | Flats and Slab

Reference price maintains long term stability for Brazilian slab exports

09 Oct | Flats and Slab

Reference price stable week-on-week for Brazilian slab exports

03 Oct | Flats and Slab

Large Iranian steel producer floats fresh billet and slab tenders

02 Oct | Longs and Billet