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|Slab Prices Recovered To $600 FOB Level In 4 Months|
According to a source, the international prices of steel slabs are rising these days, and seem to have become $600 FOB in the Asian area. It is for the first time in 4 months since October/November last year that slab prices have become the level of $600. |
With respect to slab prices as of March last year, those of the Russian slabs were $680 FOB, and of Brazilian ones were $730 FOB. However, after that, those turned to a gradual decline, and so in summer, its Russian prices became $610 FOB, and they nose-dived to the low $500's FOB in December last year. Its Brazilian prices were also reported to fall below $600 FOB in November.
Even coming into this year, as steel demand of each country was sluggish, its prices continued to drop, and business talks on slabs were also slack. In late February, the slab prices were picked up slightly, and rose to $20 to 30. It was because slab prices in the USA began to rise in positive response to offering price increase by the mills.
At this point, slab prices have clearly rebounded to upward further. Compared with the time of February, in present negotiations for April shipment, its prices are rising by around $40 in the Asian area, and contracts have been concluded at the level of $600 FOB. Following slab prices, those of steel plates are also pushed up, and such cheapest prices of $680 to 690 disappeared and they are said to have crossed the level of $700 FOB.
Despite that the US steel market is dropping since the beginning of March, against the backdrop of rise in slab prices, there are the big factors that ArcelorMittal Mexico is still suspending production and delivery due to its equipment troubles, and as TCS of Brazil is reducing or suspending export from March due to repairing of its blast furnace from April, supply quantity by that company is limited.
|last modified : Mon 26 Mar, 2012 [11:40]|