On May 22, SteelOrbis reported the following Chinese offers on flat steel products to Chile: HRC at $455-470/mt CFR, CRC at $495-510/mt CFR, and HDG at $570-585/mt CFR.
According to sources, current offer prices for HRC are at $470-485/mt CFR, CRC at $495-515/mt CFR, and HDG at $570-590/mt CFR. CRC and HDG increased $5/mt on the top of their respective ranges while HRC increased by $15/mt overall. The increase in offer prices is attributed to a stronger Chinese domestic market, but given recent fluctuations, sources say buyers are uncertain about its sustainability and some are adopting a wait-and-see perspective, especially as Brazil, an important regional and trading partner, is undergoing economic challenges.