South America caught up with the global steel price upturn in the week ended Friday November 22, with new formal import offers being made and some deals reported at prices at least $10 per tonne higher than the previous week.
The sudden scarcity of offers from South Korea, India and the Commonwealth of Independent States (CIS), which had been low-cost suppliers for December shipments, was also providing a tailwind to steel import prices.At least one sale of HRC for January shipment was settled during the week at $480-485 per tonne to the Pacific coast of South America, with offers for Brazil- and Japan-origin material mostly...