India:
Slabs offers from India are currently being heard at USD 305-310/MT, FoB India basis. As per trade sources, Hyundai Steel had booked slabs exports of about 40,000 tonnes from Bhushan Steel in the month of Jun’16, the shipment of which has taken place in first half of Aug’16. As per customs data, Wellspun India has imported 36,000 tonnes of slabs from Indonesia in the first week of Aug’16.
CIS:
The sentiments in Russian market is quite positive and prices are likely to move up in the upcoming months of Sept-Oct. Current offers for slabs are being heard at USD 310-325/MT, FoB Black Sea.
Brazil:
Brazil is one of the major exporters of slabs. The country has exported 0.36 MnT of slabs in the month of Jul’16 and 3.28 MnT in first seven months from Jan-Jul’16.
In first week of Aug’16, CSP (a joint venture between POSCO, Dongkuk and Vale) offered slabs at much cheaper rate to Asian and East Asian countries in order to mark its presence in the market. The offers were heard at USD 320-325/MT, CFR basis. However, as per market sources, those were only initial offers and that CSP’s slabs export prices are expected to increase in the coming days.
Latin America:
Recently, slabs export offers from Latin America were quite affected because of lower than average offers from a Brazilian newcomer CSP. However, at present there are no fresh offers from CSP and thus, slabs export offers from Latin America are being heard at USD 305-310/MT, FoB basis.
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