China buying drives up Asian slab prices

Import prices for steel slab in Southeast Asia and East Asia surged over the past week on strong demand from Chinese importers, sources told Fastmarkets.

Producers were mainly focused on selling their export allocations to Chinese import traders, who were willing to buy in larger quantities and at higher prices than other Asian customers, market participants said.
Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia was $370-385 per tonne on Monday May 18, up by $25-30 per tonne from $340-360 per tonne a week earlier.

During the week, Chinese...

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