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|Brazil's CSN In Action For Slab Imports From Russia, Mexico|
Brazil's integrated steelmaker Cia Siderurgica Nacional (CSN) is taking action to import steel slabs from Russia and Mexico in a total quantity of nearly 1,000,000 tons, a move that could bring a marked upswing of prices in the world's slab transaction prices, it was learned in Tokyo Thursday.|
CSN's planned slab imports are intended to meet what the company needs in operations of its Volta Redonda works in and after March 2006 after a gas explosion broke out in the dust collection system of the No3 blast furnace. It is likely that it will take five months to repair the damaged part of the No3 blast furnace whose operations are on hold.
It is considered possible for CSN to manufacture steel products at the Volta Redonda works during February with the existing slab stock of 240,000 tons. But it is understood that CSN has no option but to take slab supplies from without in and after March.
As a result, CSN is reported to have made inquiries for slab imports from steel mills in Russia and Mexico.
The going prices are described as a level of US$330-340/ton FOB in slab exports out of Brazil to the USA. In this connection, there is a possibility that CSN's massive procurement of imported slabs this time will bring a surge of prices to a level of US$400/ton FOB in the world's slab export prices, according to market sources. The sources forecast a surge of slab prices will sweep away low prices in international markets for HR coils.
|last modified : Wed 15 Feb, 2006 [10:39]|