Slab import prices in Asia rise on higher asking prices

Import prices for steel slab in Southeast Asia and East Asia rose over the past week after producers raised their asking prices because of high raw material costs, market sources said.

The price hikes were expected because of the rise in the iron ore price, source in Southeast Asia said.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, was $118.31 per tonne on July 26, up $1.31 per tonne from a day earlier. The index averaged $110 per...