Latin America: Slab export offers from Latin America are heard to be up by USD 10/MT this week amid positive demand outlook after the end of summer holidays in European markets. Current offers are heard at USD 325/MT, FoB basis and are further expected to go up to USD 340/MT, FoB basis in the month of September.
India: Slab export offers from India which registered a surge of USD 10-15/MT last week has remained stable this week. Current offers are assessed at USD 315-320/MT, FoB India basis. The Indian manufacturers have become quite active in slabs export market in the last four months, given the subdued demand for flat products in domestic market.
CIS Countries: Slabs export offers from CIS countries are currently assessed at USD 320-325/MT, FoB Black Sea. The key export markets for CIS countries are Turkey and Europe. Although there are some political distractions in Turkey currently,the demand outlook from European market seems to be positive with the end of summer holidays in the country.
Brazil: Brazil is one of the major exporters of slabs. The country has exported 0.36 MnT of slabs in the month of Jul’16 and 3.28 MnT in the first seven months from Jan-Jul’16.
In the first week of Aug’16, CSP (a joint venture between POSCO, Dongkuk and Vale) offered slabs at much cheaper rate to Asian and East Asian countries in order to mark its presence in the market. The offers were heard at USD 320-325/MT, CFR basis.
Although currently no fresh offers are being heard from the company, it has been reported that the company plans to export 1.06 MnT of slabs in current year 2016.
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