CIS STEEL SLAB: Prices slip on weaker finished steel prices, lack of demand

Steel slab prices from the Commonwealth of Independent States dropped in the seven days to Monday March 23 following the weakening of finished flat steel prices and lower demand in the major outlets.

Lower demand for slab followed the slowdown in trading activity in most markets due to the 2019-nCoV coronavirus pandemic.
Despite the lockdown in Italy, which has the highest number of contamination cases and related deaths in Europe, some slab volumes were sold for around $405 per tonne cfr, Fastmarkets has learnt. This would be equivalent to $385 per tonne fob Black Sea.
“It’s a good price. And soon we will dream of achieving that,” one producing source said.

The Italian government has ordered the closure of all non-essential production operations in the country, including steelmaking, as part of...

Published

Vlada Novokreshchenova

March 23, 2020

17:05 GMT

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