Indian Slab Export Offers Rise on Higher Production Cost and Limited Supply

Indian slab export offers increase this week owing to higher cost of production and limited supply.Notably coking coal prices have increased by over USD 100/MT in last couple of months.

Current prices for base grade slabs are assessed at around USD 340-350/MT FoB India, however there are no firm offers from Indian manufacturers.

With sharp increase in India’s domestic flat products prices, manufacturers are getting good realizations from domestic sales thus restricting their exports, commented a trader.

Last shipment of 20,000 MT from India was made to Malaysia at around 325/MT FoB India east coast in the month of September.

Slabs offers from CIS countries have also increased and are being heard at USD 330-340/MT, FoB Black Sea. The CIS countries slabs export prices have remained stable this week as the sellers there have sold out October-rolled material.

Anti Dumping Duty on Chinese Plates
Recent anti dumping on Chinese plates by European Union has increased slabs demand from Brazilian suppliers to Europe. Brazil is one of the largest slab exporter with an annual exports of  around 5 MnT.According to Brazil’s customs slab exports during Jan-Sep 2016 were recorded at 4.35 MnT.

Slabs Export Prices as on 21 Sep’16

Source: SteelMint Research