South Korean mills turn active in slab exports

South Korean mills are actively offering slabs in the global market as the downstream production is impacted due to the recent fire outbreak soon after the landfall of typhoon Hinnamnor.

Indian mills are learned to be in negotiation with a South Korean steel major for deals of 50,000 t of prime slabs at $540-550/t CIF basis for October loading, sources informed SteelMint.

Moreover, some parcels are also heard to be sold to South East Asia and Europe at the similar price levels. It seems that mill may have more export allocations for semis owing to disrupted rolling operations.

The steel major has adopted various measures to prevent further damage from the typhoon which include a disaster plan and a natural disaster emergency response team. These measures were aimed at checking the possible risks due to the landing of the typhoon.