CIS Slab producers raised prices further for overseas customers during the week to Monday March 15 as some accepted higher levels in the most recent round of sales.
Ukraine-origin slab ***
Around 25,000-30,000 tonnes of Ukraine-origin slab was heard booked in Turkey last week within the range of $740-750 per tonne cfr. This nets back to $715-730 per tonne given freight costs of $20-25 per tonne.
Turkish customers accepted the higher slab prices due to the uptick in finished flat steel prices.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, export, fob main port Turkey was $850-870 per tonne on Friday March 12, a $30 increase from $820-840 per tonne a week earlier.
Turkish producers were offering HRC at $830-880 per tonne last week, compared with offers at $820-850 per tonne fob the previous week. No major deals were confirmed.
Fresh offers for Ukrainian and Russian slab were reported at $750-760 per tonne cfr ($725-735 per tonne fob) in Turkey.
No fresh bookings of CIS slab were reported done in Europe at the time of publication. A source on the customer side from Italy said negotiations will start this week.
“Slab demand will be good because mills are producing [plate] at a good pace, so they will need to buy material,” an Italian reroller said.
“Marcegaglia is late with bookings this time, so they will have to pay higher [price for slabs],” one trader said.
price assessment for steel slab ***
Fastmarkets’ weekly price assessment for steel slab, export, fob Black Sea, CIS was $715-730 per tonne fob Black Sea on March 15, up by $30-45 from $670-700 per tonne a week earlier.
In Southeast Asia, a cargo of Russia-origin slab to be shipped from Far East ports was reported booked at $700 per tonne cfr last week.
Fresh offers from the same mill to the region were heard within at $710-715 per tonne cfr on Monday.
The steel slab import price in Southeast Asia/East Asia was assessed at $700 per tonne on Monday, narrowing upward by $10 from $690-700 per tonne cfr a week earlier.
Reference: metal bulletinhttps://www.metalbulletin.com/Article/3979774/steel/CIS-STEEL-SLAB-Mills-target-higher-prices-as-Turkish-customers-accept-increase.html
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