Flat-rolled steel import prices were mostly up in South America in the week ended Friday April 23, with customers accepting higher prices from all destinations amid an international uptrend.
Market participants were still unsure about the potential export tax rebate cut in China, and traders were offering Chinese products both with and without that reduction included.
Limited export allocation from different origins, potential delays and fears that prices would rise further made customers "anxious," according to two sources. Offers were often accepted on issuance, they said.
"Slab prices are also going up and raw material costs have not subsided... This uptrend is bound to continue for now," a source from a mill outside of China said.
Said a second non-Chinese mill source: "It seems that offers from China are still scarce and June-shipment export volumes to South America may not be so abundant... [Therefore,] we are receiving more requirements and orders than usual."
Fastmarkets' price assessment for steel plate import, cfr main ports South America was $940-960 per tonne on Friday, narrowing upward from $930-960 per tonne a week...