SteelOrbis has learned from market sources that HRC import prices for Peru and Ecuador have declined in October, while CRC import prices from China remained stable.
A Brazilian trader said China and Japan are selling HRC to South America, mainly to Peru and Ecuador, at $290-$300/mt CFR LO, from $300-305/mt, same conditions, in the end of September and the beginning of October.
Despite still being on a declining trend in the past two months, South American import prices for CRC remained stable in October, according to sources. China is reportedly to be selling the product to these countries at $340/mt CFR LO, the same price level seen in late September.
“Our clients in Latin America are spending their working capital, and the volume of orders seems to be declining for most clients,” a trader said.
Chinese heavy plate exports to South America are reportedly to be reaching $300-$315/mt CFR LO, a $25-30/mt decline from $330-340/mt in September, same conditions.
As for imports of billets from China, prices are now reaching $280/mt CFR LO, as opposed to $290-295/mt a month ago.
1 USD = BRL 3.86 (October 28)