South American flat steel import prices up on higher Chinese offers

The majority of South American import prices for flat-rolled steel went up during the week to Friday July 24 with new offers getting more expensive and lower bids from customers being rejected.

Importers, on the other hand, were increasingly looking elsewhere for their steel product needs, because their tentative buying prices were not accepted. Market participants were reporting more deals for Brazilian material, products from the Commonwealth of Independent States (CIS) and offers from South Korea.
“Demand is gradually recovering in South America [from restrictions related to Covid-19], but customers do not seem willing to buy at higher prices yet,” one trader source said.

“Clients are hunting everywhere for bargains, but if you take into account that Brazil in particular has been so absent from the import market, that hunt is actually good news,” a second trader...

Published

Renato Rostás

July 24, 2020

19:35 GMT

São Paulo