Downtrend deepens in South American flat steel import market

Prices for flat-rolled steel products imported into South America fell further in the week to Friday November 12 amid lower offers from China and weakening demand from clients on both coasts of the continent, market participants have said.

January-shipment negotiations had not yet gained traction, with buyers holding back in anticipation of even cheaper offers and with traders concerned about booking material ahead of time and having to pay a potential export duty likely to be implemented by the Chinese government next year.
"Some customers were still waiting on the [market] sidelines to see [how] the price situation [evolves] amid falling prices," one mill source said. "There may be more active offers and negotiations next week."

Fastmarkets' price assessment for steel plate, import, cfr main ports South America, was $990-1,030 per tonne on Friday, down by...

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