October 12, 2008

Russian steelworks raise slab price again

It is reported that this week Russian steel mills are offering steel slab prices at USD 880 per tonne CFR Taiwan. It is USD 50 per tonne higher than the offer quoted to India last week.

It is said that ArcelorMittal’s Tubarao plant in Brazil offer second quarter price of slab at USD 630 to USD 660 per tonne FOB for European market.

Trades estimated that Brazil will offer the price for Asia at USD 770 per tonne CFR. Actually, the current deal prices are mainly made around USD 720 per tonne CFR Taiwan.

However, the ex work prices of flat rolled material in Taiwan are only around USD 800 per tonne. It is very difficult for Taiwanese users to accept this price.