Demand was recovering at a slower pace than expected after the restrictions imposed to prevent the Covid-19 pandemic from spreading, according to market participants.
While some Peruvian and Colombian clients have started consulting with sellers for August-shipment cargoes, volumes were significantly lower than before the pandemic. Interest from Chile remained stable and Brazilian customers were mostly out of the import market, participants added.
Coated steel seemed to be the preference among buyers in the region, sources said.
The persistently weaker demand led to offer refusals in the week ended June 19, with mills raising their prices following the recovery seen in China. So negotiations resulted in...