Global Slab Market Overview

 CIS Countries

With the surge in global steel prices from March to early May, slab export prices from CIS countries also reached at its peak, when it stood as high as USD 390-400/MT, FoB Black Sea in early May.

However, with the downtrend in steel prices, slab export offers plunged significantly. Current export offers for slabs from CIS countries are assessed at USD 335-360/MT, FoB Black Sea. The slab exports from CIS countries are usually directed towards MENA region, Turkey and Italy.

As per market sources, currently buyers in Turkey and Italy are in wait and watch mode in anticipation that prices may fall down further. While, 40,000 tonnes of Ukrainian slab has been exported to East Asia at USD 385 CFR and 10,000 tonnes of CIS origin slab has been exported to North Africa at USD 375MT, CFR basis in late May.

Latin America & Brazil

Latin America’s slab export prices is currently assessed at USD 330-370/MT, FoB basis. However buyers are expecting prices to fall further in the range of USD 330-340/MT, FoB basis.

No fresh offers are being heard from Brazil currently. Last offers were heard at USD 400/MT, FoB basis. In May’16 when steel prices were at its peak, Brazil’s slab exports reached 6,03,732 tonnes, up by 20% against May’15. The highest importers of Brazilian slab is USA followed by Turkey. From January to May, Brazilian slab exports reached 2.40 million tonnes, up from 2.25 million tonnes in the same period in 2015.

Iran & India

Slab exports from India and Iran are mainly directed towards Asian countries. In early June, slab export tender of one of the Indian steel major of around 20,000-25,000 tonnes quantity was heard at USD 380/MT, CFR Malaysia.

Slab export offers from Iran are heard at USD 340/MT, CFR Asia which is lower than Brazil’s and CIS countries offers.

Slab (220-250 mm) Prices as on 16 Jun’16