South America steel import prices up; clients brace for Oct negotiations
Flat-rolled steel import prices were up in South America this past week, with mills continuing to offer at higher levels and clients still getting ready to negotiate October-shipment cargoes.
There were more price increases during the week, particularly from China, but most offers were either not directly presented to customers or not yet countered by them, market participants said.
“[The coming] week will probably be another quiet one, and offers and negotiations are expected to become firmer only [in] the [following] week, since [there is no] rush to collect orders under current market conditions,” a mill source said.
A Europe-based trader noted that prices are likely to continue rising. “Based on our latest negotiations, the feeling is that despite the worldwide crisis, there is definitely no sign of prices falling,” this source said.