New rounds of price increases during the week ended Friday December 18 fueled the uptrend in South America's flat steel import market that has been seen throughout the fourth quarter, market participants told Fastmarkets.
Chinese mills were no longer offering cargoes to the region for February shipment, and some had even denied orders for March and were awaiting the new year to offer cargo for April shipment.Some traders decided to lie low until 2021 in fears of paying too much for the material and then seeing prices plummet in a broad downward correction...