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

October 09, 2021 / www.metalbulletin.com / Article Link

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...

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