The Commonwealth of Independent States export slab price slid by mid-April on pressure from the weakening finished flat-steel market in both the CIS and the global market due to subdued buying activity, Fastmarkets learned.
Recent slab offers from CIS to Turkey were heard at $500 per tonne cfr, equivalent to $485 per tonne fob Black Sea, while the latest sales to Europe were all finalized at the same level in early April.Yet, customers were unwilling to accept this price level any longer, considering the drop in CIS export flat steel prices and the bullish market sentiment...