On June 23, SteelOrbis reported offer prices to Chile for HRC at $475-485/mt CFR, CRC at $505-515/mt CFR, and HDG at $580-590/mt CFR.
According to sources, prices have increased as Chinese exports received support from the domestic market upswing. Chinese offers of flat steel products to Chile are currently heard for HRC at $490-500/mt CFR, CRC at $510-520/mt CFR, and HDG at $590-605/mt CFR. These prices reflect an increase of $15/mt for HRC, up $5/mt for CRC, and an increase of $10/mt from the bottom of the previous HDG range and $15/mt from the top of the same range.
A source noted that Chinese offers to Colombia and Brazil are reportedly on the higher end of the range heard in Chile and some on CRC and HDG are as high as an additional $30/mt. Buyers are reportedly being cautious due to the rapid increase and market uncertainty.