A Brazilian trader said import prices for both CRC and HRC in two South American countries have continued the declining trend observed a month ago.
A source said Peru and Ecuador bought HRC at CFR LO $340-350/mt from China in August, from CFR LO $380/mt in July.
The source added the two countries have been importing CRC at CFR LO $405-410/mt, from CFR LO $420/mt in July.
“The continuity of the declines in HRC, CRC import prices will depend on China’s economic situation,” a source commented, adding these two markets are very sensitive to changes and impacts in the Chinese steel market.