Asian slab import prices climb despite concerns of supply glut from Brazil

Import prices for steel slab in Southeast Asia and East Asia rose during the week to Monday December 9 despite concerns that a potential supply glut could emerge after United States President Donald Trump threatened to restore tariffs on steel imports from Argentina and Brazil.

Sources told Fastmarkets that the uptrend in prices has already been disrupted by concerns that Brazilian steelmakers may no longer be able to sell slab to the US.
“If the tariffs are confirmed, Brazilian mills are likely to offer their material to Asia, which could result in excess supply and apply pressure on prices in the region,” a trader in Taiwan said.

US President Donald Trump stated on social networking platform Twitter that a 25% tariff under Section 232 would be reinstated on...

Published

Lee Ken Kiat

December 09, 2019

11:00 GMT

Singapore