South American flat steel import market up on higher freight costs

Import prices for flat-rolled steel were mostly up in the week ended Friday September 10 in South America, with higher freight rates the main contributing factor, according to market participants.

Freight was reportedly increasing by $10-15 per tonne on routes from China to South America, although this was not confirmed due to market illiquidity.
Offers from China remained scarce, and customers in South America were still concerned about the potential introduction of an import tax on Chinese steel. For this reason, negotiations for November-shipment cargoes were slower than usual.

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Renato Rostás

September 10, 2021

21:30 GMT

São Paulo