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    CIS STEEL SLAB: Prices slide as mills make significant concessions

    شناسه : 55117 06 مهر 1400 - 9:30
    Export slab prices from the Commonwealth of Independent States (CIS) region continued to fall toward the end of September. Mills had to make significant concessions to conclude deals in major export outlets due to the continuous weakening of finished flat-steel prices there.
    CIS STEEL SLAB: Prices slide as mills make significant concessions
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    Export slab prices from the Commonwealth of Independent States (CIS) region continued to fall toward the end of September. Mills had to make significant concessions to conclude deals in major export outlets due to the continuous weakening of finished flat-steel prices there.

    Plate price

    Fastmarkets’ price assessment for steel domestic plate 8-40mm, exw Southern Europe was €۸۸۰-۹۰۰ ($۱,۰۳۱-۱,۰۵۵) per tonne on September 22, down by €۲۰ per tonne from €۹۰۰-۹۲۰ per tonne a week earlier.
    And Fastmarkets’ weekly price assessment for steel hot-rolled coil domestic, exw Turkey was $890-920 per tonne on September 24, falling from $900-930 per tonne on September 17.

    Turkish producers were offering HRC for November production at $890-920 per tonne ex-works during the week to September 24, a drop from offers at $920-950 per tonne ex-works heard a week before.
    In such conditions CIS mills had to cut prices to attract customers, who have been largely taking a wait-and-see approach in recent weeks.

    Slab price

    A cargo of Ukraine-origin slab was reported sold to Turkey at $700 per tonne cfr, which would be equivalent to $670 per tonne fob, market participants estimate.
    “We reduced the price as we were aiming to spur our old customer,” a mill source told Fastmarkets.

    A few market participants, however, reported $670-680 per tonne as a general range for recent offers from Black Sea mills. And there were offers as high as $715-720 per tonne fob Black Sea, two additional sources said.
    One trading source reported a bid from an Italian customer coming in at $710 per tonne cfr (or $670 per tonne fob Black Sea). No fresh sales to the country were heard, however.

    The most recent sale of CIS-origin slab to Europe was from Severstal, which sold a large cargo at $700 per tonne fob Baltic Sea two weeks ago.
    As such, Fastmarkets’ weekly price assessment for steel slab export, fob Black Sea, CIS fell by $50 per tonne on Monday September 27, to $670-680 per tonne fob Black Sea.

    In the Asian region, slab prices also weakened during the week to September 27. A cargo of Russia-origin slab was said to be sold to China at $730 per tonne cfr on Monday. This was $25-30 per tonne less than the deals done in the first half of September.
    The source on the seller’s side did not comment on the deal by the time of publication.

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