Asian slab import market hit by slow buying, low-priced Iranian product

Import prices for slab in Asia have moved down over the past week, as most buyers refrained from placing orders amid an uncertain outlook in China and softening markets for coking coal and scrap.

Metal Bulletin’s Southeast Asia and East Asia slab import price assessment for the week ended Monday January 23 was $430-445 per tonne cfr, down $5 per tonne from $435-450 per tonne cfr a week earlier.
Prices are $5-10 per tonne lower in comparison with the beginning of January, when the market was widely seen as trending upwards because of tight supply.
Offers from major slab producers in Brazil and Russia were still heard at high levels across Asia – at least $450-455 per tonne cfr – but those have generated little or no interest among buyers, market participants said.

Asian slab producers have also been targeting...

Published

Juan Weik

January 25, 2017

09:53 GMT

Singapore