CIS export slab prices have increased by $15-25 per tonne fob over the past week amid limited availability of the material and the continuing price increases in the finished flat steel sectors both in the CIS and in customers' own markets.
Fastmarkets' weekly price assessment of the CIS export slab price surged to $475-485 per tonne fob Black Sea on Monday February 18, against $460 per tonne fob Black Sea a week earlier.Several cargoes of CIS-origin slab were heard booked in Europe within that price range but market participants expected new offers to be announced at higher levels.The tight availability of slabs in the spot market, which supported the price increase, was one of the...