Southeast Asian slab quotation shows significant decrease

As Ramadan approaches (March 10th to April 9th), Southeast Asian square and slab prices have experienced varying degrees of decline. We learned that the recent slab quotation in Southeast Asia has dropped by about $20 per ton compared to last month. we has learned that the current Indonesian slab quotation for CFR Jakarta is $620 per ton, with a month on month decrease of $20 per ton. Malaysia S960MC steel offers a FOB price of $590 per ton with a shipping schedule in April.

The buyer's demand is weak, and the current transaction price is about $570/ton CFR Jakarta, with the lowest transaction price dropping to about $545/ton CFR. An Indonesian steel mill has stated that they have not ordered slabs recently and that the current prices are still higher than expected. Coupled with the approaching Ramadan, market activity is relatively sluggish. However, in this situation, we also learned that due to strong demand in Europe, some Southeast Asian S960MC steel mills still refuse to sell slabs at low prices to the Southeast Asian region. A steel mill in Malaysia has stated that although there has been a decrease in inquiries from European buyers compared to before, the prices of slab sold to Europe are still considerable, and the demand for imported slabs from Europe is still high. we has learned that Vietnam and Indonesia are currently quoting approximately $570 per ton FOB (approximately $630 per ton CFR) for Italian slabs.

In addition, currently Iran has a significant advantage in quoting slab prices to Southeast Asian buyers. we has heard that Iranian steel mills are quoting $545 per ton CFR Indonesia S960MC steel