Upward trend in South American flat steel import market persists

Flat-rolled steel import prices continued to trend upward in South America during the week ended Friday March 5, with China and Japan raising their offers for May-shipment material and freight costs remaining elevated.

The price increases were taking into account costlier bulk freight rates in addition to the potential export tax rebate cut in China, market participants said. The potential reduction of the rebate to 9% from the current 13%, has been on steelmakers' radar since late January.
Fastmarkets’ price assessment for steel plate import, cfr main ports South America was at $750-775 per tonne on Friday, up by 2.35% from $735-755 per tonne a week earlier.

At the beginning of the week, Chinese offers to the region's Pacific coast were put at $750-755 per tonne, with at least one trader able to sell at...

Published

Renato Rostás

March 05, 2021

21:29 GMT

São Paulo