Steel import prices stable in South America on market lull ahead of May talks

Most flat steel import prices in South America have remained unchanged in the week ended Friday March 6, in a market lull before the start of negotiations for May shipments, although sellers were indicating that more expensive offers would be presented in the weeks ahead.

Market participants were expecting Chinese steel demand to recover from the recent tumble cause by the outbreak of 2019-nCoV coronavirus, supporting higher prices. At the same time, they were still expecting logistics problems and potential output disruptions in the Asian country.
Until mid-February, daily crude steel production was receding in China because of the intermittent supplies of steelmaking raw material and unexpected maintenance downtimes.

“The market is on hold right now, so we are not seeing great changes in price,” one mill source said. “But negotiations for May shipments will...

Published

Renato Rostás

March 06, 2020

18:53 GMT

São Paulo