South American flat steel import prices rise on broad uptrend

Flat-rolled steel import prices in South America mostly continued to rise in the week to Friday September 11, with both deals and new offers being reported at higher levels, supported by recovering demand and lower availability from mills, market participants said.

More restricted export allocations from China, Japan and Brazil, as well as gradual restarts in activity on the continent, were still driving prices upward. On the other hand, the steel plate market was still under pressure due to anemic consumption in the region.
“South America is slowly returning to normal steel demand levels with countries easing the restrictions needed because of the Covid-19 pandemic,” one US-based trader source said.
While some clients, particularly on the Pacific coast, were trying to secure imported supply as soon as possible amid this persisting uptrend, others preferred to stay away, especially those in Brazil.

“Orders from Brazil remain for low-tonnage cargoes, and import...

Published

Renato Rostás

September 11, 2020

20:00 GMT

São Paulo