With increase in domestic plates prices post anti-dumping duty imposition, demand for imported slabs have increased in India.
Domestic manufacturers are keen in importing slabs especially from Indonesia as the import from the country do not attract any customs duty under FTA (Free Trade Agreement).
Slabs are covered under the purview of Minimum Import Price (MIP) and the MIP price fixed for the same is USD 341/MT. Even at this rate, the conversion cost of imported slabs into plates comes to be lower than the cost involved in domestic plates manufacturing, driving Indian buyers to import slabs.
POSCO-Indonesia, a major slab exporter is currently not entering in to any slabs export deal as the company is already booked with orders for this year till Dec’16. However, slab offers from Indonesia being offered by others are heard at USD 350-355/MT, CFR India.
Sentiments for HRC in CIS market have improved in last one week, thus pushing slabs prices by USD 10/MT. Current slab offers from CIS countries are assessed at USD 330-340/MT, FoB Black Sea.
No fresh slab offers have been heard from Latin America this week while last offers were at USD 320-325/MT, FoB basis. South east Asia’s imported slab offers are heard at USD 345-350, CFR basis.
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