Sources inform SteelOrbis that prices have widened on the top of the previous ranges for ex-China flat steel offers to Chile, as Chinese traders claim there’s a strong possibility of an upswing on limited supply due to environmental policies that are reducing some steel production until March 2018. A source said that buyers are not confident of the effective decline in total available flat steel products on the environmental policies basis, therefore, deals have been limited over the past week.
On November 14, SteelOrbis reported ex-China offers to Chile for flat steel at $575-580/mt CFR for HRC, $620-625/mt CFR for CRC, and HDG at $675-680/mt CFR.
Offer prices are now reportedly at $575-585/mt CFR for HRC, $620-630/mt CFR for CRC, and HDG at $675-685/mt CFR. The new offers have widened $5/mt from the top of the previous ranges.