Report Period:June 17–24, 2026
Cover:Brazil | Argentina | Chile | Peru | Colombia
This week’s South America Steel Weekly Report arrives at a moment of both relief and renewed urgency. The Brazilian government has postponed its much‑anticipated HRC anti‑dumping ruling to December, lifting the immediate threat of structural market closure and giving importers a clear six‑month window to secure competitively priced material. On the same day, the import quota system reached its June 23 expiry, triggering the automatic 25% tariff on all above‑quota volumes—though a new quota period with fresh headroom is already beginning under the extended regime that runs through mid‑2027. Meanwhile, Chinese HRC export prices have drifted lower for a third consecutive week, billet is under direct pressure from returning Iranian supply, and Brazil’s own trade data confirms that anti‑dumping measures are working, with finished steel imports down over 20% and the trade deficit narrowing sharply. For procurement and sales teams operating across the region, these crosscurrents demand precise and immediate intelligence.

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: whether to resume HRC imports under the new quota period now that the AD threat has receded, or to wait for Chinese FOB to fall further; how to navigate the 25% tariff now that above‑quota volumes are automatically subject to it, and what the cost differential versus domestic Brazilian HRC looks like under the new tariff regime; where to redirect billet volumes as Iranian competition intensifies in the Middle East; and how to approach the Argentine market, where consumption is projected to grow 13% in 2026 but foreign exchange controls remain a severe operational bottleneck.

This Week’s Key Focus Areas:

Brazil’s HRC AD Postponement to December: SECEX has confirmed that Chinese HRC was dumped and caused injury to domestic producers, but the investigation has been extended to a full 18‑month timeline. No provisional duties will be imposed in June. The immediate threat of structural market closure has receded, but the uncertainty around the final ruling remains a significant risk for procurement planning through the second half of 2026.
June 23 Quota Expiry and the New Tariff Reality: The current import quota period has ended. Above‑quota HRC, CRC, HDG, galvalume, and wire rod volumes now automatically face the 25% tariff. A new quota period with fresh headroom is beginning under the extended system to June 2027, but the transition creates a brief adjustment period. The report provides precise landed cost calculations for both Chinese and alternative‑origin HRC under the new tariff structure.
Chinese Export Price Erosion Continues: HRC FOB has fallen for a third consecutive week to $492–501/t, and billet has slid to $465–468/t as post‑Dragon Boat Festival demand remains subdued and Southeast Asian buyers stay in their seasonal lull. Iranian billet is now directly competing for Middle Eastern orders, adding further downward pressure on Chinese semi‑finished exports.
Brazil’s Trade Deficit Narrows 59.2% — AD Measures Prove Effective: Finished steel imports fell 21.6% YoY to 1.41 million tonnes in the first five months of 2026, while domestic mill sales rose 6.7%. China’s share of imports dropped to 41% from 47% in April. These data confirm that the anti‑dumping cascade is achieving its intended effect, and they provide a concrete baseline for forecasting import volumes in the second half of the year.
Santos Port Congestion Intensifies into Peak Season: Average berthing wait times have reached 116 hours (4.8 days), and the June–October peak season is expected to add 3–7 extra days of delay. Importers must budget for demurrage and factor extended logistics timelines into their procurement planning.
Argentina’s Demand Outlook and Payment Reality: Acero Argentino projects 13% steel consumption growth in 2026, driven by Vaca Muerta and public works. However, the SIRA import licensing system, 60‑day FX waiting period, and $250,000 prepayment cap continue to constrain trade. The report provides practical guidance on navigating these barriers.

Note: This weekly report includes a full week‑on‑week price and policy comparison against the prior period, helping you track momentum and spot reversals before your competitors do.

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