South America flat-steel import prices rise on global uptrend

South America caught up with the global steel price upturn in the week ended Friday November 22, with new formal import offers being made and some deals reported at prices at least $10 per tonne higher than the previous week.

The sudden scarcity of offers from South Korea, India and the Commonwealth of Independent States (CIS), which had been low-cost suppliers for December shipments, was also providing a tailwind to steel import prices.
Fastmarkets’ latest price assessment for steel hot-rolled coil, import, cfr main ports South America, was $480-490 per tonne on Friday, up from $460-480 per tonne a week before.

At least one sale of HRC for January shipment was settled during the week at $480-485 per tonne to the Pacific coast of South America, with offers for Brazil- and Japan-origin material mostly...

Published

Renato Rostás

November 22, 2019

19:40 GMT

São Paulo