South American flat steel import market down on China concerns

Volatility persisted in the South American flat-rolled steel market as import prices mostly decreased during the week to Friday June 11 after rebounding the previous week.

Importers told Fastmarkets concerns about new changes to Chinese taxes and a lack of visibility about which trend prices would follow were resulting in less quoting and orders.
Most sources said during the week they were expecting changes to Chinese tax rebates for cold-rolled and galvanized coils as well as the introduction of an import tax for a few steel products, but added that those were not confirmed yet.
"August shipment negotiations were quieter than expected due to [those] uncertainties," a non-Chinese mill source confirmed.

Fastmarkets' price assessment for steel hot-rolled coil import, cfr main ports South America, was $990-1,070 per tonne on Friday, down by $10-30 from $1,020-1,080 per...

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