[Ferro-Alloys.com] Traditional slabs suppliers are trying to keep prices firm for the Asian market, having sold large quantities for August production. Meanwhile, suppliers from alternative destinations were ready to offer much lower tags and thus spurred customer interest.
CIS suppliers are offering slabs at $445-450/t CFR for September shipment to Southeast Asia from both Far Eastern and Black Sea ports, slightly up from $440-450/t CFR two weeks ago. Asia’s key supplier in Russia largerly sold out August production in the first half of the month, so availability from the CIS is somewhat limited at present, providing support to prices.
Better options were available from alternative suppliers. At least 70,000 t of Iranian slabs was marketed in Thailand and Indonesia last week at $365/t FOB for end August-September shipment, which corresponds to more or less $400/t CFR, sources estimate.
Buyers in Taiwan were also trying to get the lowest possible price referring to slow demand in the HRC segment in the region. “While earlier we could sell at $515/t FOB, now $505-510/t FOB would work. Moreover, demand in the local market is not good,” a Taiwanese source noted. The acceptable price for Taiwan would be $430-440/t CFR, sources consider.
Brazilian material was offered at $465/t CFR. “Brazil is active now and will remain present in Asia till the end of 2019, but we are not ready to buy at similar levels now,” a trader said.(Metal Expert)
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