A recent absence of Iranian companies due to a week-long holiday last week to mark the Persian New Year
, Nowruz, has contributed to the lack of activity.
Metal Bulletin’s assessment of slab import prices in Southeast Asia and East Asia was $430-440 per tonne cfr for the week ended Monday March 27, unchanged for a third week.
This is still higher than prices over most of February, which fell to a two-month low of $420-435 per tonne cfr
In Indonesia, state-owned steelmaker Krakatau Steel was heard to have skipped its monthly slab procurement tender in March – for May-shipment cargoes – because of scheduled maintenance at its hot strip mill
in May and June.
The company ended up buying at least 80,000 tonnes of hot rolled coil from a South Korean supplier at around $550-560...