South America steel import prices continue uptrend on higher offers from China

Import prices for flat-rolled steel continued to rise in South America during the week ended on Friday November 27, with Chinese mills presenting higher offers and clients rushing to settle the last deals for January-shipment cargoes.

The prices on products from all origins also edged up, and lower availability supported those higher prices, according to market participants.
Buyers were now bracing for February-shipment negotiations, which were expected to result in even more expensive material due to the week-long break for the Chinese New Year to take place in that month.
Demand, on the other hand, could be lower than at the time of previous talks.

“I suppose mills and customers mostly concluded their January shipment [needs] last week, and they will start negotiating for February shipment...

Published

Renato Rostás

November 27, 2020

20:08 GMT

São Paulo