Flat-rolled steel import prices were pressured further in South America during the week to August 19 on the continuing downtrend in Chinese flat steel prices and amid new discounted deals and offers in the region.
There were reports of short selling in the market, while weak demand prompted more aggressive offers, according to sources. The Galvalume market was still the most dynamic in the flat-steel spectrum.Fastmarkets' price assessment for steel coil Galvalume import, cfr main ports South America was $700-720 per tonne on August 16, down from $720-735 per tonne on August 9.Although most traditional Chinese mills were offering 0.4mm, 100-120g coated coils to Brazil at $730 per tonne cfr and to the Pacific coast at $710-720 per tonne cfr, some material was offered to Brazilian clients as low as $690 per tonne cfr.No Galvalume deals were reported, however, because...