Flat steel import prices partially retreated after previous gains and went down during the past week in South America, as persistent weakness in the Chinese market induced sellers to accept lower bids.
Fastmarkets assessed the hot-rolled coil import price at $510-530 per tonne cfr on Friday December 21, down on the low end from $515-530 per tonne on December 14. That price range widened amid a demand uptick - especially in Brazil."I am seeing a lot of Chinese mills refusing to sell at the low end of this price range and trying to close deals at $540-550 per tonne," one source said. "Demand...