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| Brazilian Slab Exports At $850 FOB For Q4 Shipments To Asia |
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Slab exports out of Brazil have sold at US$850/ton FOB for shipments to Asia in the October-December quarter, down US$200 from the settlement a quarter ago, according to information made available in Tokyo. With a considerable fall in Brazilian slab export prices this time, it is likely that the world's export prices of finished steel products will come under a pronounced decline in the immediate future, market sources forecast. Until recently, world's slab export prices on the rise contributed to increased prices of various steel exports in finished form. Transaction prices of billets first came down in the world's export deals of semifinished steel products for shipments in the July-September quarter. As a result, billet prices fell off to a level of US$600/ton FOB in mid-September from that of US$1,100/ton FOB at the beginning of July-September quarter. At present, export prices of Turkish billets are estimated at a level of US$600/ton FOB. Information is circulating that Russian slab exports have sold at US$800/ton FOB for Asia of late as if to follow a fall in billet prices. The negotiated Russian price indicates a downturn of as much as US$250 from the norm of slab export prices at the beginning of the July-September quarter. In South Korea, meanwhile, electric steelmaker Dongkuk Steel Mill Co is reported to have raised its domestic sales prices of heavy plates including ship plates by W150,000/ton (US$130). The company's heavy plate production is based on bought-in slabs. |
| last modified : Thu 02 Oct, 2008 [10:50] |
