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.

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