On July 31, SteelOrbis reported ex-China flat steel offers to Chile at $530-535/mt CFR for HRC, $565-580/mt CFR for CRC, and $665-675/mt CFR for HDG.
According to sources close to SteelOrbis, current Chinese offers to Chile for HRC are at $540-550/mt CFR, CRC at $575-585/mt CFR, and HDG at $670-680/mt CFR. The updated HRC range represents an increase of $10/mt from the bottom of the previous range and $15/mt from the top of the previous range. CRC offers have increased by $10/mt from the bottom of the previous range and $5/mt from the top of the previous range while HDG offers have shifted up $5/mt.
After a sideways pause in late July, offers have continued on the upward trend that prevailed since late June. The trend is consistent with higher global raw material and billet prices. Additionally, sources note the higher increase in HRC offers due to government imposed production limit announcements in some regions of China for H2 2017.