On August 21, SteelOrbis reported ex-China offers to Chile for HRC at $585-590/mt CFR, CRC at $630-635/mt CFR and HDG and $715-730/mt CFR.
According to sources, offer prices on ex-China flat steel to Chile increased this week, though less than in previous weeks, as offers were heard for HRC at $585-595/mt CFR, CRC at $635-645/mt CFR, and HDG at $720-730/mt CFR. The updated HRC range represents an increase of $5/mt on the top of the previously reported HRC range while CRC increased by $5/mt from the bottom of the previously reported range and $10/mt from the top of the previously reported range. HDG increased by $5/mt from the bottom of the previously reported range while maintaining the top range. A source noted that many buyers are interpreting the slowdown in price increases as an expectation of stable to slightly lower prices in the near future; therefore, many buyers have adopted a wait-and-see attitude pending further market information.
According to a separate source, offer prices of ex-China flat steel to other South American countries such as Colombia and Brazil are higher by $5-20/mt in CFR terms depending on the product.