South America's coil import prices edge down as buyers await Chinese offers

Import prices for some flat steel in South America inched down on Friday February 7, with buyers refraining from booking orders amid concerns over the outbreak of the Wuhan coronavirus.

Several sources reported that buying activity was nearly at a standstill. There are fears that the outbreak could spark price cuts in Chinese material.
The first offers from China were reported at levels similar to before the Chinese New Year holiday, but buyers were placing bids at lower levels.
Fastmarkets assessed the price for steel hot-rolled coil, import, cfr main ports South America at $530-560 per tonne on Friday, down from $545-560 per tonne one week earlier.

The price assessment for...

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