Import prices for flat-rolled steel in South America soared in the week to Friday February 26, boosted by a swift increase in bulk freight rates and higher offers from Chinese mills, returning to the market after the Lunar New Year holiday.
By the end of the week, some of offers previously presented to the continent were pulled, due to uncertainties regarding delivery. Reduced availability of cargo vessels in Asia increased freight costs by more than $30 per tonne in some cases, disrupting the whole import market."We have started to hear customer concerns over vessel unavailability and shipment delays to...