A source at a major Colombian steelmaker told SteelOrbis domestic prices for HRC are below the expectancy of local steelmakers.
Despite applying a readjustment in flat prices due to the devaluation of the Colombian peso, a top executive told SteelOrbis in the sidelines of the Alacero conference, held in Buenos Aires, Argentina, from November 10-11, that domestic HRC prices could be even higher.
"We needed to adjust flat prices in Colombia due to the devaluation of the Colombia peso," a mill source said, adding the move was relatively well received by domestic market participants.
"I think we should have other level for HRC prices," the source said.
According to this mill, it is selling HRC at COP 750-800,000 /mt ($247-263/mt) FOB.
The mill source said a "desired" level of prices should be around COP 900,000/mt ($296/mt) FOB.
USD = COP 3,038.59