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Russian Mills Raise Slab Prices by $30 for Aug Shipment
According to a source, plural Russian mills are likely to have raised their prices of steel slabs by around $30 from those for July shipment for Asia for August shipment. As they had proceeded with negotiations at $380 FOB or $410 CFR in the past, their prices have reached $400 on FOB basis after a long interval. Their current prices are reported to be $410 FOB or $430-440 CFR.

When prices of hot-rolled (HR) steel coils dropped in the Asian region, Russian mills were not in a stance to lower their prices so much. When prices of HR coils fell by $70-80, a decrease in prices of their slabs stayed at $30-40.

Possibly because recently, an upward trend in prices of HR coils is growing centering on China,
Russian mills are seen to react to it and to have raised their offer prices. As China's prices of steel billets and scrap prices for Turkey are rising, such factors are also thought to have led to Russian mills' increase in prices of slabs.

Chinese mills' offer prices of steel plates are reported to be $490 CFR, of which diffrence from those of slabs is $60. It is subtle whether re-rolling mills in Asia move to purchase slabs with this level of the price difference.

In case of HR coils, mills of each country worry about a fall in prices from early autumn onward and intend strongly to raise their prices till then. If prices of HR coils exceed $500 CFR, there is a possibility that customers' positive attitude appears.

The Japanese blast furnace mills are still in a state to shelve negotiations due to unprofitability at the current level of prices.
last modified : Wed 19 Jul, 2017 [09:48]
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