Asia slab import prices drop to six-month low on weak demand

Slab import prices have dropped this week in Asia as regional re-rollers struggle with seasonally low demand resulting from the Islamic holy month of Ramadan in Indonesia and Malaysia and the rainy season in several countries.

Two bookings for July shipment were heard over the past few days in the region, at prices around $400-405 per tonne cfr, several market participants told Metal Bulletin.
One of the sales was heard in Indonesia, where a local slab re-roller would have accepted a price below $405 per tonne cfr for a 40,000-tonne cargo from Brazil, three different sources said on Wednesday May 31.

Previous rumours about a 40,000-tonne, July-shipment cargo allegedly sold early in the month by a Russian supplier at a...

Published

Juan Weik

May 31, 2017

15:16 GMT

Singapore