South American flat-rolled steel import prices pressured downward by Chinese material

Flat-rolled steel import prices in South America dropped this past week due to pressure from low-priced offers from China and weak sentiment among buyers.

Several market participants believe the drop in offers and bids are a consequence of the outbreak of the novel coronavirus (2019-nCoV).
Offers for hot-rolled coil from China were heard at around $510 per tonne cfr this past week, while offers from other origins - including Brazil - were heard in the Pacific Coast region at more than $540 per tonne.

Information about a recent deal for material originating...

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