SÃO PAULO China
has again raised export offer prices for flat steel products to
South American buyers following other increases implemented
throughout January, regional market sources told AMM
sister publication Steel First.
Chinese mills are now offering
hot-rolled and cold-rolled coil to South America for as much as
$705 per tonne c.f.r. and $745 per tonne c.f.r., respectively,
for late March/April shipment, trading sources and steel buyers
said. This is up from $670 to $680 per tonne and $695 to $730
per tonne c.f.r., respectfully, in mid-January.
Hot-dipped galvanized coil
offers have also risen to about $815 per tonne c.f.r. from $790
per tonne previously, sources said.
The new levels are seen as
generally uncompetitive by traders and steel buyers in Peru,
Chile, Colombia and Brazil.
"China is offering prices above
the reference levels," one trader in Chile said.
A steel buyer in Argentina
agreed. "Offers from Japan and (Commonwealth of Independent
States) countries are more competitive in the region now," he
A source at a Ukrainian mill
said his company closed hot-rolled coil sales to South America
at $630 per tonne c.f.r. or less during January.
One Russian steelmaker also
reportedly sold "several cargoes" to a number of Latin American
nations, including Brazil, as offers from China were deemed too
Ana Paula Camargo
contributed to this story. A version of this
article was first published by AMM sister publication Steel