South America flat steel import prices rise as China returns from holiday

South American flat steel import prices rose during the week to Friday May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material from elsewhere was sold at higher levels.

Only a few firm offers were provided to clients in South America, according to market participants. Most were price indications for residual June shipments and initial assessments for shipment in July - all at higher prices than the previous weeks.
"July-shipment negotiations in South America will begin from next week, with another round of price increases expected over rising iron ore prices," a mill source said.

Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, hit an all-time high of $212.25 per tonne on Friday, up by 5.14% from $201.88 per tonne on May 6 and by 12.39% from...

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