South America flat steel import prices rise, hit temporary ceiling

South American flat-rolled steel import prices were generally up in the week to Friday April 30, but have hit a temporary ceiling since the effects of the export tax rebate cut in China had been mostly factored in previously, market participants said.

The majority of the assessments increased slightly, but the top end of the ranges were lower or unchanged, depending on the product.
The increases come before the start of the five-day labor holiday in China and the Golden Week holiday in Japan, with new offers expected for the end of the following week or the beginning of the next, sources said.
Some exporters having already closed their order books for shipments in June, but a few sources believe customer needs had not been fully met. When mills began to gauge the market for July-shipment deals in the coming weeks, pent-up demand could boost prices.

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Published

Renato Rostás

April 30, 2021

19:25 GMT

São Paulo