On August 28, SteelOrbis reported ex-China offers to Chile for HRC at $585-595/mt CFR, CRC at $635-645/mt CFR, and HDG at $720-730/mt CFR.
According to sources, offer prices on flat steel from China to Chile are now reported for HRC at $590-600/mt CFR, CRC at $640-650/mt CFR, and HDG at $725-740/mt CFR. The new ranges represent an increase of $5/mt on HRC, CRC, and the bottom of the HDG range while the top of the HDG range increased by $10/mt.
A source noted that higher offers may be appearing in the market throughout the week as the anticipated downtrend from China exhibits resilience as a result of firmer Chinese pollution policies and strong global raw material prices. Some buyers are reportedly continuing a wait-and-see approach pending further market information as some believe inventories in China are growing and may result in price corrections.
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 $5-10/mt in CFR terms depending on the product.