Indian Slabs Export Stalls amid Recovery in Domestic Market

Market sources have informed SteelMint that the Indian slabs exporters which were quite active in export market since past four months are currently not showing any keen interest in slabs exports.

With radical increase in country’s domestic flat products prices, Indian manufacturers are getting good realizations from domestic sales thus restricting their exports.

Private players are currently offering slabs at USD 350/MT, FoB India basis, whereas SAIL’s slabs offers are heard to be at USD 330/MT, FoB India.

Slabs offers from CIS countries are being heard at USD 315-320/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 and will be back in late September or early October for November deliveries.

Brazil is one of the largest slab exporters in the world.  Brazilian slab exports totalled to 0.50 MnT, down by 20% from 0.62 MnT in August 2015. From January to August, Brazilian slab exports totalled 3.78 MnT, down from 4.19 MnT exported in the corresponding period of 2015.

The USA was the largest buyer of Brazilian slab, accounting for 0.25 MnT, down from 0.32 MnT a year earlier. No fresh offers for slabs are currently being heard from Latin America. Last offers were heard in the range of USD 320-325/MT, FoB basis.

Slabs Export Prices as on 21 Sep’16

Source: SteelMint Research