On June 30, SteelOrbis reported ex-China offer prices on flat steel products to Chile increasing as Chinese exports received support from the domestic market upswing. Chinese offers of flat steel products to Chile were reported for HRC at $490-500/mt CFR, CRC at $510-520/mt CFR, and HDG at $590-605/mt CFR. At the time, a source noted that some CRC and HDG offers to other destinations such as Brazil were heard up to $30/mt higher.
Sources are currently reporting higher ex-China offers on flat steel products to Chile. Prices are now reported for HRC at $500-505/mt CFR, CRC at $520-535/mt CFR, and HDG at $625-640/mt CFR. Most offers are reportedly for September shipments.
The HRC prices reflect an increase of $10/mt from the bottom of the previous range and $5/mt from the top of the previous range. CRC offers have increased $10/mt from the bottom of the previous range and $15/mt from the top of the previous range. HDG offers have increased by $35/mt.
A source noted that some Chinese offers to Brazil are rumored by dealers to be as high as $550/mt CFR for CRC and $655/mt CFR for HDG.