Offers for steel slab from the Commonwealth of Independent States (CIS) surged in the week to Monday August 10 amid supportive market fundamentals, sources said.
Fastmarkets' weekly price assessment for
steel slab, export, fob Black Sea, CIS was $425-430 per tonne on Monday, up from $400-405 per tonne a week earlier.
One of the reasons for higher prices was the reduced availability of material amid strong demand for finished flat steel products in Russia as well as maintenance works at some mills, sources said.
Russian mills selling slab from the Black Sea basin continued to stay away from the export market, trading sources told Fastmarkets.