The United States and the European Union have recently reached an agreement on tariffs on steel and aluminum, which will continue to maintain “Article 232″, but allow a “limited number” of EU steel and aluminum products to enter the US market without tariffs. By then, it is expected that more European coils will be exported, demand for slabs will be released, and the sentiment of the CIS slab market will improve.
However, some market participants expressed that they are not optimistic. European plate prices have just stopped falling, and the impact of energy surcharges is currently unclear, and slab prices are unlikely to rise.
Currently, CIS slabs are quoted at US$700-710/ton FOB Black Sea, and transaction prices are at US$760-770/ton CFR Europe.
Post time: Nov-11-2021