According to sources, import offers on flat steel products from China to Chile are decreasing due to a downward movement on domestic Chinese prices as well as a reluctance by Chilean buyers to purchase at prices that had reached a two-month high. One source noted that downward corrections were expected, as offer prices continued moving up despite some downward fluctuations in the Chinese domestic market and mixed global signs in raw material prices.
On March 13, offers on flats to Chile were heard for HRC at $540-550/mt CFR, CRC at $630-640/mt CFR, HDG $665-675/mt CFR and heavy plate at $510-520/mt CFR.
Sources are reporting to SteelOrbis current offer prices for HRC at $515-525/mt CFR, CRC at $590-605/mt CFR, HDG at $640-650/mt CFR and heavy plate at $515-520/mt CFR. These prices reflect a decline on prices as follows: HRC down by $25/mt; CRC down by $40/mt on the bottom of the previous range and down $35/mt from the top of the previous range; HDG down by $25/mt; and heavy plate decreasing by $5/mt.