The recent upward price movements in flats have revived some buying activity in Chile. Buyers wish to capture deals at lower prices of what seems to be an upward moving curve. Prices of raw materials such as coking coal, iron ore pellets, iron ore and scrap continue showing a strong upward trend that is pushing up prices of finished steel goods globally. Specifically, the prices for CRC and HDG are strengthening in the Chinese domestic market. Therefore, export offers for CRC and HRC have increased $20/mt and $25/mt for HDG compared to offers heard in mid-October.
Ex-China deals in Chile transacted in the last week were heard at $410-415/mt CFR for HRC, $475-480/mt CFR for CRC, and $560-565/mt CFR for HDG.
Import offers to Chile for December shipment from China are being heard this week at $445-450/mt CFR for HRC, $500-515/mt CFR for CRC, and $585-605/mt CFR for HDG. Sources close to SteelOrbis state that ex-China heavy plate trading volume is low but offers have also increased by $20/mt to $410-420/mt CFR.