South American flat-rolled steel import prices had no clear trend in the week ended Friday October 22, with a few Chinese offers issued at higher levels being countered by less expensive material from other origins.
Prices from Russia and Brazil continued to provide headwinds to the overall import market amid falling costs for iron ore and slab, market participants said. One mill source recalled that in some cases the price dropped $100 per tonne solely during December-shipment negotiations."No one is ordering," a Brazilian trader source said. "With the dollar as high as it is now and higher stocks at ports, I don't think they will [order] anytime soon."...