Import offers to Chile for November shipment ex-China are being heard for HRC at $425-430/mt CFR, CRC at $475-495/mt CFR, and heavy plate at $390-405/mt CFR. Due to the upward price movements being experienced in rebar, wire rod, HRC, CRC and billets domestically in China, a source close to SteelOrbis commented on the potential upward push in offers for December shipment. The most recent offers for HRC have tightened to the upper range of previously heard offers of $420-430/mt CFR. Additionally, he noted, “We have a high possibility of prices increases as the flat steel market in Chile highly depends on imported materials, but we are also feeling an uncertainty in the market as the end of the year approaches. Deals will probably come in a little lower than the top end.”
To put it in perspective, in mid-October 2015, ex-China import offers and transactions to Chile were at $315-335/mt CFR for HRC, $360-380/mt CFR for CRC, and $310-330/mt CFR for heavy plate.