South America steel import prices up on higher offers for September

Import prices of flat-rolled steel increased slightly in South America during the week to Friday July 10 because new offers for September-shipment cargoes continued the recent uptrend.

Demand from the continent was also expected to recover, with Peru, Colombia and Ecuador slowly returning to the market following a long quarantine period intended to prevent the spread of Covid-19 in those countries.
Brazilian customers, meanwhile, remained on the market sidelines due to an unfavorable currency exchange rate. But a recently announced 10% domestic price increase could generate renewed interest in imports, participants said.
No deals had been reported for September shipments at the time of publication, however.

Fastmarkets' price assessment for steel hot-rolled coil, import, cfr main ports...

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