Slab import prices in Asia down on bearish sentiment, lower HRC prices

Import prices for steel slab in Southeast Asia and East Asia fell during the past week, with market participants remaining bearish due to the ongoing plunge in downstream hot-rolled coil prices, sources told Fastmarkets.

“Margins for steel mills in Southeast Asia have been squeezed because of the decline in HRC prices, which has led to demands for lower slab prices,” a source in Southeast Asia said.
Buyers in East Asia and Southeast Asia indicated their interest at $360-375 per tonne cfr, market sources said.

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Lee Ken Kiat

October 14, 2019

12:57 GMT