In early April, Asian suppliers of steel slabs reduced their offers to European rolling mills to $520-540/t CIF, according to Eurometal. At the end of March, Asian producers were asking for $580-600/mt CFR.
Representatives of the steel mills emphasize the lack of strong demand, which allows them to agree to buy slabs at higher prices.
In turn, traders talk about large stocks of slabs in Italian ports. This also indicates sluggish demand and contributes to lower prices for new contracts.
The situation may change by the end of Q2, as EU producers of flat products seek to improve margins. This is facilitated by restrictions on imports imposed by the European Commission. Kallanish reported, citing sources, that ArcelorMittal plans to raise the price of the sheet by €20/t for shipments in June.
If buyers agree to this price increase, slab suppliers will try to use it to raise their own prices. However, a further rise in quotations will open up opportunities for imports again, even if additional duties are imposed.
In Japan, slab prices rose to $470/mt FOB as of April 4. As of March 28, the quotes were $460/t FOB. Mysteel notes that Trump’s tariffs had virtually no impact on the trade in semi-finished steel products in Southeast Asia.
In Brazil, the export price of slabs in early April fell to $490/t FOB compared to $495/t FOB at the end of March. In the middle of last month, offers for deliveries to the United States were at $505/mt FOB.
As GMK Center reported earlier, the European Commission imposed an anti-dumping duty on hot-rolled coils from Egypt, Japan and Vietnam on April 8. The investigation covered the period from April 1, 2023, to March 31, 2024, and was initiated in August last year at the request of the Eurofer Association.
Source : https://gmk.center/
