Just few export contracts for Venezuelan HBI recorded in June

摘要

There is little demand for Venezuelan HBI in June amidst weakness in substitute products and finished steel markets. Chinese and US importers sill prefer less expensive scrap to HBI, European mills have also turned to suppliers from other countries. Nevertheless, Venezuelan exporters have not reduced prices due to low capacity utilization on irregular pellets supply. Although some plants resumed operations in June, bookings were put off till July. There were no export sales in the second half of June because producers were pending approvals from the government.