Flat steel import prices soar in South America on China’s strength

Import prices for flat-rolled steel products in South America continued their nearly three-month uptrend as Chinese material was presented at higher levels for March 2021 and April 2021 shipments following ongoing domestic strength.

Interest from buyers went quiet ahead of the year-end holidays, however, market participants said. Most clients were waiting to see if prices would correct down next month, while some of the few orders placed were rejected by mills expecting the uptrend to continue.
Fastmarkets’ assessment for steel plate import, cfr main ports South America was $670-690 per tonne on Thursday December 24, up by $35-40 from $635-650 per tonne on December 18.

The only sale reported during the week was for Japan-origin material to the Pacific coast, at $670 per tonne. New offers of Chinese heavy...

Published

Renato Rostás

December 24, 2020

19:24 GMT

São Paulo