Posted on 11 Sep 2024
An Indonesian exporting mill’s recent deals of commercial grade slab reflect its competitive prices, Kallanish notes.
Market sources in Jakarta hear that 60,000-70,000 tonnes of the mill’s rerolling slab were booked early this week at $435/tonne fob. Of this quantity, 20,000t were sold to Indonesia and the rest were believed to have been sold to Turkey.
A Jakarta trader says the mill has offered at $435/t fob "for some time" but another notes that he expected an export target price of $5-10/t higher. “We just heard about the deal,” an importer said on Tuesday. The only other offer he hears for slab is from Oman – which does not produce slab, meaning it is likely re-labelled Iranian material – at around $470/t cfr Jakarta. This is higher than the Indonesian mill’s concluded price, which would be equivalent to around $455/t cfr Jakarta.
A Singapore trader reports hearing that the mill’s slab export price is at $468/t cfr Turkey. He had also heard of another lot booked for Turkey and Latin America at around $435-440/t fob. All were November shipments. The mill is the main exporter of commercial grade slab out from Indonesia.
Source:Kallanish
