Prices for most imported flat-rolled steel increased this week in South America despite persisting lackluster demand, as a hot domestic market in China is leading to higher offers.
Seller and buyer sources told Fastmarkets orders for July shipment would likely be 50-75% lower than before the Covid-19 pandemic. June deals will likely amount to around a third of usual volumes, they said.While larger Chinese mills increased their HRC offer prices to South America to $460-465 per tonne, there were still smaller participants offering at $445-450 per...