On July 24, SteelOrbis reported ex-China offers for flat steel products to Chile for HRC at $530-535/mt CFR, CRC at $565-575/mt CFR and HDG at $665-675/mt CFR.
According to sources, current offers to Chile on flat steel products are reportedly being heard in the following ranges: HRC at $530-535/mt CFR, CRC at $565-580/mt CFR and HDG at $665-675/mt CFR. These prices represent a sideways trend on HRC and HDG; the CRC range, however, increased by $5/mt on the top end. A source noted that transactions at the end of July were limited, as Chinese prices had increased consistently for weeks. As such, many buyers took a wait-and-see perspective, hoping for slight relief in early August as the rumor of a slowdown in the domestic Chinese market is expected to dampen, or at the minimum, maintain import prices into Chile.
Consistent with previous weeks, Chinese offers for CRC and HDG in Brazil were heard $5-10/mt higher than those in Chile.