Southeast Asia slab prices increased Feb. 1 on a month-on-month basis as raw material prices such as iron ore rose, even as buyers stayed on the sidelines while the offers from sellers rose.

          Platts assessed monthly prices of SAE1008, SAE1006 or equivalent grade base slab at $610/mt CFR Southeast Asia, up $35/mt, or 6% from Jan. 1.

          The market had slim activity after the Lunar New Year holidays, according to market sources.

          No deals were heard done in Indonesia. The offers for Eastern Steel SS400/SPHC were heard at $650/mt CFR Jakarta, end March shipment, according to an Indonesia-based mill source.

          "The offer price is too expensive," the source said.

          Russian and Iranian slab offers were also heard in the market.

          Russian indicative offers for slabs were heard at $610/mt Southeast Asia CFR, while indicative offers for Iranian slabs were heard to be in the $520-$530/mt range before Lunar New Year holidays but had jumped to $570-$580/mt after the holidays, according to a Malaysia-based mill source.

          Meanwhile, deals in January for undisclosed volumes for Eastern Steel S275 were done at $580/mt ex-works Malaysia, spot shipment, according to the same Malaysia-based mill source.

          A Vietnam-based mill source said the tradable value for Dexin SAE1008/SAE1006 was at $620/mt FOB Indonesia for March shipment.