Market sources told SteelOrbis that both HRC and CRC import prices have continued the declining trend observed in August, with offers from China to Peru and Ecuador reaching as low as CFR LO $300/mt.
“Peru and Ecuador are still importing flats, but they are now importing much less steel, even despite the import prices from China being lower,” a source said.
A trader said China has been able to export HRC to Peru at CFR LO $300-305/mt, from $340-350/mt in August, same conditions. As for CRC, sources said Korean producers are selling the product at CFR LO $340/mt to Peru.
“I don’t expect import prices to recover. Clients are still importing, but much less than in the past,” one source said.
The source said he was aware of heavy plate deals from China to Peru and Ecuador closed at CFR LO $330-340/mt.
“As for billets, prices are going as low as CFR LO $290-295/mt,” the source added.
1 US$ = BRL 3.90 (October 5)