Offers early last week in Chile for flat steel products from China were heard at $445-460/mt CFR for HRC, $500-525/mt CFR for CRC, $590-615/mt CFR for HDG, and $420-425/mt CFR for heavy plate.
Prices of steel products are up due to the continued price increases in raw materials as well as stronger domestic demand being experienced in China. The positive trend is expected to continue for months; therefore, as transactions in Chile are adopting some of the new pricing, offers have continued to climb. Additionally, recent announcements of production and transport restrictions in the key steelmaking region of Tangshan are driving expectations of further tight supply in both the domestic and export markets.
Offers this week to Chile for flat steel products ex-China have moved up again and are being heard at $455-475/mt CFR for HRC, $525-550/mt CFR for CRC, $595-620/mt CFR for HDG, and $420-430/mt for heavy plate. From offer prices being heard early last week, these reflect an increase of $10-15/mt on HRC, $25 on CRC, $5/mt on HDG and a widening on the top end by $5/mt for heavy plate.