On December 27, SteelOrbis reported ex-China offers to Chile for flat steel at $615/mt CFR for HRC, $650-655/mt CFR for CRC, and HDG at $710-720/mt CFR.
Sources inform SteelOrbis that prices have remained generally stable, though, some efforts at an uptick are being made by sellers. HRC prices reportedly continue at $615/mt CFR while CRC and HDG offers have consolidated up $5/mt to $655/mt CFR and $715-720/mt CFR, respectively.
Buyers have reportedly adopted a wait-and-see approach through the early week in January, due to the “mixed signals in the market.” A source noted that the delay is as a result of buyers hearing about a softness in the Chinese domestic market which may lead to potential discounts in the near future, while, on the other hand, raw material prices including scrap, iron ore and coking coal are maintaining high prices globally.