Higher freight boosts South American flat steel import market

Rising freight rates continued to push the import prices for flat-rolled steel products upward in South America in the week ended Friday September 17, despite offers from China remaining scarce and demand slowing down, especially in Brazil.

Some market participants reported that freight rates were $20-30 per tonne higher, depending on the port of origin and the product. For coiled material, for example, a few sources quoted $100-120 per tonne, while others said $120-130 per tonne, and the freight rate for heavy plate could be as high as $160 per tonne.
Meanwhile, demand from the largest country on the continent, Brazil, appeared to have cooled down. Increasing inventories and concerns about economic growth reduced the level of interest, according to market participants.

"Clients started to worry that the market has slowed down, and it definitely will if it hasn't done so already," one Brazil-based trader...

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