European slab prices fell in the second half of April

According to Eurometal analysts, average offers for imported steel slab in the EU in the second half of April fell to $500/t CIF, compared to $520–540/t CIF at the beginning of the month. In March, quotes had already fallen by $80–100/t. Traders predict that with weak demand from rolling mills, the trend will continue for at least another 2–3 months.Despite the European Commission’s March restrictions on imports of finished rolled products (in particular flat products), which, according to market participants, should have supported prices, no significant increase has occurred.

In addition, the decline in offers was influenced by already recorded corrections in the cost of rolled coils in Europe.Against the backdrop of European dynamics, Japanese slab prices remained stable at $470/t FOB in April, indicating a balance between supply and demand in Southeast Asia.At the same time, in Brazil, slab quotes rose to $510/t FOB in the last days of April after three weeks of stability at $490/t FOB, a result of the resumption of export shipments to the US. However, further price increases are limited by the seasonal decline in hot-rolled coil prices in the US, which occurred after the influx of advance orders against the background of the introduction of import duties of 25%.

According to the American Iron and Steel Institute, imports of semi-finished steel products into the US in March amounted to 675 thousand tons, and the total volume for the first quarter reached 2.06 million tons. Therefore, the situation in the North American market directly affects the export opportunities of Brazilian producers.

 

Source: https://gmk.center/ua/news/ievropejski-cini-na-slyab-znizilisya-u-drugij-polovini-kvitnya/