Little to no change to South American steel import prices amid Chinese holiday

South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China’s National Day holiday and few offers from other origins.

There was no activity from China during the October 1-7 period due to week-long national holiday there, which paved the way for material from other countries to be offered to South American clients. However, with the market shifting from November- to December-shipment negotiations, participants saw little market liquidity.
At the same time, buyers were trying to bid more aggressively, citing low prices from smaller Chinese mills as a benchmark for other exporters – despite export allocation from China being drastically reduced in recent months.

“There was wide gap in [price information] between the selling side and the buying side,” one ex-China...

Published

Renato Rostás

October 08, 2021

19:00 GMT

São Paulo