Asian slab import prices pressured sharply lower by softening HRC prices, Covid-19 epidemic

Import prices for steel slab in Southeast Asia and East Asia tracked losses in the downstream hot-rolled coil market against the gloomy backdrop of the novel coronavirus (Covid-19) pandemic.

Fastmarkets’ price assessment for steel slab imports, cfr Southeast Asia and East Asia was $350-370 per tonne on Monday March 30, down $30-40 per tonne from $390-400 per tonne a week earlier.

Over the past week, Chinese buyers booked multiple May and June-shipment slab cargoes from the Commonwealth of Independent States (CIS), Brazil, India and Southeast Asia in the range of $355-370 per tonne cfr, market participants told Fastmarkets. The CIS cargoes will be shipped...

Published

Lee Ken Kiat

March 31, 2020

11:44 GMT

Singapore