CIS export slab-billet price spread at 4-month high

The spread between Black Sea export billet and slab prices reached a four-month high on Tuesday September 1, with slab currently exceeding billet by at least $29 per tonne amid better demand and reduced availability.

Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $430-440 per tonne on Tuesday, widening up by $5 per tonne.
Fastmarkets daily steel billet index, export, fob Black Sea, CIS, meanwhile, was $401 per tonne on Tuesday September 1, unchanged day on day
The current average spread is $34 per tonne, up from $7.50 per tonne early in August, while it was $9.50 per tonne in early July. The last time the spread was this wide was in April 2020.

"The growth of the spread in favor of slab is based on demand. Interest in slab has grown because of higher demand for hot-rolled coil," a trader said.

Global HRC prices began to recover in second half of May because of robust demand from Asia and the gradual reopening of other destinations after the Covid-19 lockdowns, a producer source told Fastmarkets. 
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