Argentina’s domestic flat steel prices have continued moving up on higher raw material prices and better domestic economic outlook. While the economy remains in a deep recession, business sentiment has improved in the last few months. Firms such as Ternium have expressed confidence in Argentina returning to growth in 2017 as Brazil, an important trading partner, recovers and a revived public spending plan in Argentina is achieved. Analysts see the economy rising 3.2 percent in 2017 from the expected 1.8 percent decline in 2016.
Early in December, domestic prices for commercial grade HRC are being heard firming up at $625-640/mt ex-works. This is an increase of $10-15/mt from $615-625/mt ex-works in early November prices which had moved up $15-20/mt from early October prices of $595-605/mt ex-works.
CRC domestic prices are being heard at $755-765/mt. This increase is a $20 increase from $735-745/mt ex-works in early November which had moved up $20/mt from $715-725/mt ex-works reported in early October.