China’s Export Price Adjustments and Latin America’s Steady Import Prices
In recent days, offshore steel export prices from China have begun to decline. However, this has not significantly impacted landed prices in Latin America, where major South American ports report the following prices:
- Hot-Rolled Coil (HRC): Prices at $550-580/ton CFR remain stable week-on-week. Offers above this range have seen no transactions, as market sentiment suggests prices have nearly bottomed out, with a possibility for slight downward adjustments, driving demand among bargain-seeking buyers.
- Hot-Dip Galvanized Coil (HDG): Prices remain steady at $680-720/ton CFR, showing almost no change compared to 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 Prices
With the upcoming U.S. presidential election in November, hot-rolled coil prices in the U.S. Midwest have stabilized. Midwest steel mill prices for HRC currently stand at $685 per short ton ($755 per metric ton), a decrease of 1.61% from the previous week, with prices expected to hold steady in the near term.
Turkey’s 2025 Steel Export Strategy
Turkey has set an ambitious steel export target for 2025, with Turkish steel exporters increasingly focused on penetrating the African market to meet these goals. African demand presents new opportunities amid evolving global trade dynamics, and Turkish exporters are looking to strengthen trade ties across the continent.
