September 07, 2008

Brazilin slab export prices to SEA surge

It is reported that Brazil exports its slab to Indonesia and Korea at USD 850 per tonne C&F and USD 820 per tonne to USD 830 per tonne C&F respectively for Q2 of 2008.

It is said that the price will continue to rise and as per some trading sources the price for new deals has already hit USD 900 levels

Indonesian government has started to impose anti dumping tax on hot rolled coil from China, India, Russia, Thailand and Taiwan. The higher price on imported HRC has caused domestic HRC to hike. Local mill PT Krakatau expects to sell over USD 1,000 per tonne. That’s the reason Brazilian slab price climbs to USD 850 per tonne.

The increasing slab price will cause HRC price to boost in third quarter. The current HRC price to Asian countries from Japan is USD 850 per tonne FOB but it will expectably soar to USD 1,000 per tonne in the third quarter.

(Sourced from Yieh.com)