Slab import prices are seen decreasing in Europe in September. This is due to lower iron ore prices, the general wave of price reductions in raw materials combined with sliding finished steel values in Europe, Kallanish learns from market sources.

The latest transaction values for slabs from the CIS was $435/tonne cif Southern European port for large tonnages and for August-casting. However Southern European mills booked slabs at around $445/t cfr for smaller orders before the August summer break started and mills shut down, sources say.

Meanwhile the price for plates in Southern Europe are also unstable as demand was particularly patchy in July also in France. 

A buyer who spoke to Kallanish said he expects CIS slab export prices to Southern Europe to decrease to $410/t cif (€370/t) for large buyers and $420/t cif for smaller tonnage buyer. In August a Ukrainian supplier sold several lots to European re-rollers at up to $410/t fob for September-cast material, Kallanish notes.