The region’s import market followed a broader downtrend reported for the Chinese domestic market
in the past few weeks. That trend reversal was also supported by reduced liquidity, due to November-shipment needs being almost all met.
“After months offering expensive steel, China is back to lower prices. The attractiveness of imports is rising,” one trader source in the region said.
“Consultations increased in the past two weeks in Brazil, with prices closer to meeting clients’ bids,” a second trader source said.
Fastmarkets’ price assessment for steel hot-rolled coil, import, cfr main ports South America, was $545-570 per tonne on Friday, down by $15-30 per tonne from $560-600 per tonne...