Commodity Inside

  • Login
  • MY CART
    No products in cart.
  • Home
  • Reports & Data
    • Commodities
      • Steel Market
      • Raw Materials and Base Metals
      • Glass and Plastics Market
      • Energy Market
    • End Users
      • Automotive Market
      • Construction Market
      • Electronics Market
      • Packaging Market
  • Consulting
    • Coverage
      • Our Expertise
      • Sample Works
    • Engagement
      • Our Approach
      • Research Methodology
  • Knowledge
    • Market Insight
    • World Gold Mines Database
    • COVID-19 Impact on the Steel Industry
  • About
    • About Us
    • Contact Us
  • Home
  • Market Insight
  • Steel
  • Steel slab prices are on the rise

Steel slab prices are on the rise

by Commodity Inside / Thursday, 18 June 2020 / Published in Steel
Steel slab prices are on the rise

The impact of the coronavirus outbreak is still high in various parts of the world. In Europe, the steel market is slowly returning to normal in key countries, such as Germany, France and Italy, but it is still far from pre-pandemic levels. Moreover, Eurofer has requested a 75% cut to the import quotas to help EU steel producers. While a 75% cut is unlikely, a reduction between 30% and 50%  is expected, which is going to harm slab imports.

Similarly, in the US, the automotive market (one of the largest end-user of flat steel) has been one of the worst-hit by government measures in response to contain the virus. The recovery is going to take some time, as unemployment remains high. Yet, there is an increasing risk of a second wave in the country. Meanwhile, the Mexican market, a major buyer of slab is also depressed, due to the growing number of COVID-19 cases. With North America being a struggling market, Brazilian slab exporters are turning to Asia, especially China.

China has become the largest market for Brazilian and CIS slabs. Between January and April 2020, China has imported 1 Mt of slabs, compared to just 20 Kt, in the same period of last year, according to the Chinese Customs. Most of the slab purchases were reported in April and May when the construction activity and most other industries resumed operations. The trend has continued in June, although at a lesser extent, due to the rainy season in the country.

Commodity Inside believes that international slab prices will continue to increase in July. This is mainly due to Chinese demand. Another factor which is going to provide support for slab prices is the new quarterly quotas (1.05 Mt) for Brazilian slab to the US without paying the 25% duty, starting in July.

This article is based on excerpts from our Slab Market Outlook.

Are you looking for steel-related statistics, why not try out our data platform.

Please contact us for FREE initial consultations at Research@commodityinside.com

NEED HELP?

Legal

  • Terms and Conditions
  • Privacy Policy
  • GET SOCIAL

Commodity Inside Limited is registered at UK Companies House. ©2025 Commodity Inside Limited I All rights reserved.

Contact:

info@commodityinside.com
+44 (0) 208 123 7812

TOP
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
SettingsAccept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT