The downward pressure on flat-rolled steel import prices in South America persisted in the week ended Friday November 5, with buyers still cautious of ordering January-shipment cargoes while gauging future demand and overall pricing trends.
More market participants expressed their fears during the week regarding an export duty being imposed on steel products from China from January 2022. They said expectations were for a 10-20% tax, although there was still no confirmation.A few China-based traders, on the other hand, offered to ship new orders as...