South American flat steel import prices increased significantly this week, with mills in China returning to the market with high-priced offers after the Chinese New Year holiday.
"On Thursday and Friday last week, the market seemed to open weakly in China, so all mills held their offers," a South America-focused trader said. "Then on Monday, the market opened very strongly, and mills applied strong price increases, with several producers booking very big tonnages."A second source concurred with the surge in prices, saying that "offers are rising every day," after the Lunar New Year holiday ended on February 21.Metal Bulletin's weekly price assessment for...