South American steel import prices dip as mills accept lower bids

Import prices for flat-rolled steel in South America softened in the week ended Friday January 22 with some Chinese mills accepting lower bids from clients.

“Some small-sized, privately owned mills in China are taking lower bids as long as they’re in cash payment, in order to fund [their operations],” one trader source told Fastmarkets.
“Last week and this week,” a source at a mill added, “we saw a wide gap between offer prices from Chinese private mills and the major Chinese mills.”
Fastmarkets’ price assessment on Friday for steel hot-rolled coil, import, cfr main ports South America, was down week on week by $5-15 per tonne to $725-795 per tonne, from $740-800 per tonne.

The price range for HRC widened and was the most representative of the gap between the costs of Chinese material and other origins,...

Published

Renato Rostás

January 22, 2021

19:58 GMT

São Paulo