South American flat steel import market down ahead of monthly negotiations

South American flat-rolled steel import prices decreased during the week ended Friday September 3, with material from countries other than China dominating the market and ahead of November-shipment negotiations.

Hot- and cold-rolled coil from the Commonwealth of Independent States continued to be offered to the continent's Atlantic coast, primarily to Brazil and Colombia. No deals were reported during the assessment period.
"Customers [in Brazil] started denying contract clauses that would automatically readjust prices in case an export tax is introduced in China," a Brazil-based trader said. "I can't sell like this."
Market chatter about a 10-20% tax to be applied on Chinese steel exports has had participants concerned for months. There has been no confirmation of if or when this would happen.

Freight rates also remained a concern for buyers and sellers. Most participants reported maritime costs at $120 per tonne and above from China to both...

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