A persistent global uptrend and a quick shift to negotiations for March-shipment cargoes, in some cases, continued to drive import prices for flat-rolled steel in South America significantly upward during the week to Friday December 11.
A few Chinese mills took the unusual decision to change their offer prices twice in the week. Demand remained strong, but market participants started to become cautious about rushing to close deals, which they had been doing in previous weeks."What awaits us in 2021 remains to be seen," a US-based trader source said. "Sure, demand is strong and there's a supply imbalance, but how long will this...