South America flat steel import prices steady on market illiquidity

Flat-rolled steel import prices were mostly stable week on week in South America on Friday May 1, after deals became scarce and negotiations for June-shipment cargoes finished with low interest from clients.

Demand for flat steel has continued to drop in the region due to factory closures and weaker end-user consumption stemming from the Covid-19 pandemic. Sellers were already focusing on talks for July shipments, sources said.
In addition to market illiquidity, raw material costs were not declining as fast as finished products and were preventing steel prices from decreasing further, participants added.

Fastmarkets’ price assessment for steel hot-rolled coil import, cfr main ports South America was unchanged week on week at $420-450 per tonne on Friday. The midpoint of the range is down by 21.3%...

Published

Renato Rostás

May 04, 2020

17:46 GMT

São Paulo