SteelMint has heard from its market sources that, South Korean steel giant, Hyundai Steel is looking out for slab purchase from India. And the key reason behind the same being maintenance work being carried out at one of its blast furnaces in Danjin, Central South Korea.
On 12 May, out of the three blast furnaces in Danjin, temperature in one of the blast furnaces dropped below the malting point of steel due to problem in heat transmission inside the furnace. Because of this the daily steel output of blast furnace dropped to 30% of total output at 3,000 tonnes a day.
In terms of slab production the company has lost 1,50,000 to 2,00,000 tonnes in past one and a half month.
This has compelled Hyundai Steel to look out for other sources to procure slabs. As per SteelMint sources, the company has sent its team for inspection of slabs being manufactured by one of the Indian steel majors, Bhushan Steel.
The export price quoted by the company are heard to be in the range of USD 340-350/MT, FoB India basis.
Slab offers from CIS countries are heard to be in the range of USD 320-355/MT, FoB Black Sea. While offers from Brazil are heard at USD 340/MT, CFR Turkey. Latin America’s slab offers are assessed at USD 320-350/MT, FoB basis.
Indian Slab Exports in Apr-Jun’16
| Month | Company | Quantity | Load Port | Unload Port | Avg Price | Remarks |
| Apr’16 | Nil | – | – | – | – | |
| May’16 | JSW Steel | 15,000 | Goa | Houston, US | USD 422 | Fior its pipe plant |
| May’16 | SAIL | 15,000 | Kolkata | Italy | USD 310 | Stock lot |
| Jun’16 | SAIL | 10,500 | Kolkata | Italy | USD 308 | Stock lot |
Qty in tonnes
Price in USD/MT
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