Sources inform SteelOrbis that following the week-long Chinese holida held from October 2 to 8, the Chilean flat steel import market saw limited trading as buyers were extremely cautious on market uncertainty and Chinese export prices sought price support from their own domestic market. However, the Chinese domestic market weakened after the Golden Week holiday and sought direction throughout last week.
On October 2, SteelOrbis reported flat steel offers to Chile at $590-595/mt CFR for HRC, $635-645/mt for CRC, and $690-695/mt CFR for HDG.
According to sources, ex-China flat steel offers to Chile are currently reported at $585-595/mt CFR for HRC, $630-635/mt CFR for CRC, and $685-690/mt CFR for HDG. These price ranges represent a decline of $5/mt from the bottom of the previous HRC range, a decline of $10/mt from the top of the previous CRC range while the bottom of the same range decreased $5/mt, and a decline of $5/mt on HDG from both ends of the range. A source added that "export-friendly currency movements have also led to lower export offer prices."