On March 7, SteelOrbis reported offers from China to Chile for flats as HRC at $540-545/mt CFR, CRC at $625-635/mt CFR, HDG at $660-670/mt CFR, and heavy plate at $505-510/mt CFR.
On March 13, offers on flats to Chile are now being heard as follows: HRC at $540-550/mt CFR, CRC at $630-640/mt CFR, HDG $665-675/mt CFR and heavy plate at $515-520/mt CFR. These offer prices reflect an increase of $5/mt on the top of the range for HRC, $5/mt increase on CRC, $5/mt increase on HDG, and $10/mt increase on heavy plate.
According to a source close to SteelOrbis, “Despite the domestic slowdown in China this past week, Chinese firms are keeping their export values up. These numbers are slightly higher than those during the end of December 2016. Many think Chinese internal policies will work to maintain these prices in the short-term and possibly for the longer-term. The increase is also in line with upward movements in North and South America.”