Given the decline in global raw material prices along with weaker demand in the Chinese domestic market, a source noted that many buyers in Chile are delaying flat steel import orders on the possibility of further price declines.
On March 20, SteelOrbis reported ex-China offer prices to Chile for HRC at $515-525/mt CFR, CRC at $590-605/mt CFR, and HDG at $640-650/mt CFR. These prices reflected an overall decline of $25-40/mt compared to price ranges reported the week ended March 13.
For the week ended March 24, sources are informing SteelOrbis that offer prices to Chile for HRC are at $515-525/mt CFR, CRC at $585-600/mt CFR, and HDG at $640-650/mt CFR. HRC and HDG price ranges are being reported as relatively stable with an increased number of offers moving down within the ranges. CRC offers, though, are being reported as having moved down $5/mt, with the predominant number of offers at $590-595/mt CFR.