On February 2, SteelOrbis reported ex-China flat steel offers to Chile stable at $610-615/mt CFR for HRC, $650-655/mt CFR for CRC, and $715/mt CFR for HDG.
Sources inform SteelOrbis that flat steel offers have softened $10-15/mt across all grades as the Chinese New Year holiday approaches. A source noted that traders discounted offer prices temporarily prior to the holiday but are warning of possible increases after the holiday period to encourage sales. He added that while that is certainly a possibility, the concern is the net volumes available to the export market after the environmental policy is lifted in March, though he noted the announcement of production restrictions in regions such as Tangshan that were recently announced which may help sustain prices.