South American Import Prices
In recent days, offshore steel export prices from China have started to decline, though this has not yet fully impacted Latin American import prices. Key prices at major South American ports are as follows:
- Hot-Rolled Coil (HRC): Prices remain steady at $550-580/ton CFR, with little change week-on-week. Higher price offers have seen no successful transactions, as market sentiment suggests prices have likely bottomed with a small potential for further slight decreases, leading to opportunistic buying.
- Hot-Dip Galvanized Coil (HDG): Prices remain stable at $680-720/ton CFR, virtually unchanged from the previous week.
- Cold-Rolled Coil (CRC): Prices increased by 3.25% week-on-week, reaching $620-650/ton CFR.
U.S. Hot-Rolled Coil Market
As the U.S. presidential election in November approaches, hot-rolled coil prices in the U.S. Midwest have reached a stable level. Midwest steel mill prices for HRC currently sit at $685 per short ton ($755 per metric ton), reflecting a 1.61% decrease from the previous week. Prices are expected to remain steady over the coming week.
