CIS STEEL SLAB: Customers target lower prices on soft demand, uncertain market

Customers in some of the major outlet markets for CIS-origin steel slab have reduced their bids significantly in the past week due to the drop in demand and uncertainty in the global market caused by the spread of the 2019-nCoV coronavirus.

No indications of fresh offers were heard from CIS producers on Tuesday March 10 because mills were said to be assessing the market.
A source in Italy expected new offers to be announced within the next 10 days around $420 per tonne cfr, equivalent to $400-403 per tonne fob Black Sea.

Meanwhile, Ukrainian slab producer Metinvest said that it did not intend to reduce slab prices because the availability of material from April rolling would be limited because the...


Vlada Novokreshchenova

March 10, 2020

16:40 GMT