Brazil extends quota to 2027, Santos backlog hits 120 vessels, China HRC rebounds. Importers: time to lock contracts? Exporters: where to redirect? Download Report.
This week’s South America Steel Weekly Report captures a market pulled in opposite directions. Brazil has extended its steel import quota system through June 2027, providing a full year of policy certainty that removes the imminent cliff-edge risk. Yet the aftermath of the June 3 port strike has left Santos with 120 vessels at anchorage, average waits of five days, and shipping lines imposing double-digit surcharges. Chinese HRC export prices have rebounded sharply on pre-holiday restocking and domestic stimulus signals. Brazilian domestic mills are signaling further price increases on top of already-record levels. For procurement and sales teams operating across the region, the decisions made in the coming weeks will lock in cost structures and market positions for the rest of the year.
The report is built specifically for procurement managers who source steel for Brazil, Argentina, Chile, Peru, and Colombia, and for export sales managers who target these markets. Every section is filtered through the lens of actionable decision-making: how to use the newly extended quota system to negotiate long-term supply agreements with Japanese and Korean mills; whether to lock in the Chinese HRC price rebound before post-holiday softening takes hold; and how to navigate a logistics environment where the BDI is falling but port congestion is keeping landed costs elevated. This edition includes a week-on-week comparison with the prior reporting period, so you can see exactly how prices, trade policies, and logistics conditions have shifted.
Core Value Proposition (one-sentence summary based on this report’s focus):
Brazil’s quota extension through 2027 provides twelve months of policy certainty, but the Santos port backlog and Chinese HRC price rebound are creating an urgent decision window—procurement managers who lock in supply now and export managers who redirect displaced volumes first will capture the advantage before the market adjusts.
Note: This weekly report includes a week-on-week data and policy comparison against the prior period, helping you track momentum and spot reversals before your competitors do.
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