The slab import market has remained soft in East Asia, Kallanish notes. While slab import prices do not appear to have deteriorated in the past two weeks, market sentiment is weighed by the recent descent of regional hot rolled coil markets.

Rerolling slab from Russia was booked around two weeks ago at $470/tonne cfr, a Taiwanese trader says Thursday. This is $5/t lower than the previous order in second-half October.

The Taiwanese reroller has recently placed a bid at $450/t cfr but the Russian supplier has not accepted it, the trader said. But two other regional traders heard market chatter that the supplier has let go slab at this level. Kallanish is unable to confirm this.

The weakness in the slab market is due to the sharp fall in HRC import prices in Asia, including Vietnam. Chinese HRC prices are still sliding and there are no signs of prices reaching a bottom yet, regional trading sources note. Chinese 2-2.5mm SAE 1006 HRC was ordered this week at $520/t cfr Vietnam.

A Thai reroller is saying that Russian slab offers are at $470/t cfr Thailand, a Thai trader reports. He believes that Iranian slab is offered now at $460/t cfr Thailand.

The results of the award price in an Indonesian reroller’s slab purchase tender last Friday are still unclear. Traders indicated hearing it attracted offers for Russian slab at $470-480/t cfr.