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East Asian slab import prices rise on stronger buying

Monday, 27 February 2012

Offers of slab imports into East Asia have risen to $600/tonne cfr and above. Bookings have taken place in Thailand, Malaysia and Indonesia at $580-590/t cfr this month, up $10/t from last month, trading sources tell Steel Business Briefing.

Buying sentiment has improved this month across the region including in Taiwan, trading sources report. “We see renewed buying interest for slab,” a regional trader says.

Some 80,000 tonnes of Russian slab were sold in early February at $585-588/t cfr Indonesia. The booking comprised SAE 1006 and SAE 1008 grades, Indonesian trading sources tell SBB. Good demand for flat rolled products in the Indonesian domestic market is supporting the higher slab prices, they add.

Russian coil-making slab was also booked two weeks ago at $590/t cfr Taiwan, and the supplier has since raised its offer price to $600/t cfr Southeast Asia and Taiwan. Another Russian supplier is offering plate-making slab at $630/t cfr Korea but there are no takers yet, SBB understands.

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