Import prices for steel slab in Southeast Asia and East Asia dropped over the past week, tracking lower prices in the downstream markets.
Metal Bulletin's assessment of import prices for slab in Southeast Asia and East Asia was $530-540 per tonne cfr for the week ended August 20, down $10 per tonne from a week earlier.
There were a flurry of deals done into key import markets Thailand and Indonesia, including a large-quantity cargo sold at the $530-535 per tonne cfr level into the former for a Russia-origin cargo.
There were also deals done within the $530-540 per tonne cfr range into Indonesia for Malaysia-origin slab.
Russia-origin slab was offered at $545-555 per tonne cfr Southeast Asia, while Indonesia-origin slab was offered at $560-565 per tonne cfr Southeast Asia.
The price direction for slab remains unclear, market sources said, due to uncertain market fundamentals.
"The downstream hot-rolled coil market is falling in Southeast Asia due to weak demand. However, China may start winter production cuts earlier this year, and this may support spot prices," an Indonesian trader said.
source: Metal Bulletin |
