Indian manufacturers which were never quite active in slabs export market have started shipping slabs to countries like Korea, Italy, US and Indonesia since last three months.
Market sources have informed SteelMint of export deals being signed in July by Indian manufacturers for export of about 75,000 tonnes slabs to Korea at the rate of USD 330-340/MT, FoB India basis.
In May and Jun’16, India’s total slabs exports stand at 52,554 tonnes for two months.
As per the provisional customs data, in May’16, India exported about 30,869 tonnes of slabs to Italy and US. Whereas in Jun’16, about 21,685 tonnes of slabs have been exported from India to Italy and Indonesia.
In Jun’16, South Korean steel major, Hyundai Steel was looking out for slab purchase from India. This was on account of maintenance work being carried out at one of its blast furnaces in Danjin, Central South Korea.
The company had even sent its inspection team at the manufacturing plant of one of the Indian steel majors.
Global Slab Offers
CIS-origin slab offers are being heard at USD 315-330/MT, FoB Black Sea. Slabs offers from Latin America are assessed at USD 320-335/MT, FoB basis. However, no fresh offers have been heard from Brazil. Last offers from Brazil were at USD 340/MT, CFR Turkey.
Brazil is one of the largest slab exporters in the world.The country had exported a total of 2.92 MnT of slab in the first six months of 2016, slightly higher than the 2.86 million tonnes it shipped out in the first half of year 2015.
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