On April 17, SteelOrbis reported Chinese offers on flat steel products to Chile (for late May and early June delivery) trending down due to more aggressive export pricing, which was attributed to the Chinese economic slowdown and resulting lower domestic demand and growing inventories.
SteelOrbis reported mid-April offers at $470-475/mt CFR for HRC, $525-540/mt CFR for CRC, and $580-590/mt for HDG. Heavy plate offers to Chile were at $475-485/mt CFR main Chilean ports.
Import flats prices in Chile are now being reported at $455-470/mt CFR for HRC, $510-525/mt CFR for CRC, and $575-590/mt CFR for HDG. These prices reflect a decline of $15 from the bottom of the range and $5/mt from the top of the HRC range, a decline of $15/mt on CRC, and a widening of the bottom of the HDG range by $5/mt.
Heavy plate import prices have also declined to $460-470/mt CFR main Chilean ports. The new range reflects a price erosion of $15/mt.