South America steel import prices rise in sellers' market

The South American flat-steel import market continued on an uptrend in the week to Friday August 14, with customers accepting more expensive offers from several different regions.

Clients decided to settle deals for October-shipment cargoes at higher prices, because demand was gradually improving and their supply needs had grown. It had become evident that it was now a seller’s market, participants told Fastmarkets.
“Chinese mills are rapidly raising their offer prices, so buyers are trying to mitigate that by ordering earlier,” one Brazil-based trader source said.
“There were already many deals for October shipment [during the current week], because clients were in a rush to secure [cargoes] from mills amid recovering demand and limited supply,” one mill source said.

Fastmarkets assessed the price for steel hot-rolled coil, import, cfr main ports South America, at $540-560 per tonne on Friday, significantly up from $510-535...

Published

Renato Rostás

August 14, 2020

19:00 GMT

São Paulo