Indian slab export offers have moved up by USD 10-15/MT this week owing to rising prices in global market. Current offers for 230 mm slabs are assessed at USD 315-320/MT FoB India, which were hovering in the range of USD 305-310/MT, FoB India last week.
Market participants mention that there are limited offers from Indian suppliers but considering global market, prices should be in the range of USD 315-320/MT, FoB for South East Asian countries.
Last month, Bhushan Steel had concluded about 25,000 MT slabs export deal with a Korean steel maker at around USD 325-330/MT, FoB India.
Slab export prices have gone up from CIS and Latin American region by USD 5-10/MT largely due to absence of Chinese supplies.
Slab prices had fallen in the last few weeks owing to export deals from Brazilian steelmaker, CSP. But, market participants mentioned that the slab market is affected by recent increase in Hot Rolled Coil (HRC) and plate prices from China.
Slabs prices in week 35
| Particulars | Prices | W-o-W |
| FoB India | 315-320 | +10 |
| FoB Black Sea | 320 | +5 |
| FoB Latin America | 315-320 | +10 |
| CFR South East Asia | 335-340 | +5 |
Prices in USD/MT
Source: SteelMint Research
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