Prices for flat-rolled steel imports into South America mostly decreased in the week to Friday May 28 due to a significant absence of Chinese material in the market, with negotiations starting to shift to August shipment, overall lower offers, and a cautious stance among customers.
This was the first time since February 5 this year that the majority of import prices on the continent fell on a weekly basis. They have since all breached the $1,000-per-tonne threshold for the first time since Fastmarkets published most of them, in 2013.The main points of concern for buyers and traders were all issues in China, rather than in South America. These were the...