South American flat steel import prices lower; market quiet

Reduced market liquidity between monthly negotiations and lower offers from China pressured imported flat-rolled steel prices lower in South America during the week ended Friday October 29.

Most customers had already satisfied their December needs during the previous week and refrained from ordering more, according to market participants. They were also again weighing the risk that would result from the potential introduction of an export duty by China next year.
Brazil- and Japan-origin material was absent from the market, with mills preparing to offer January-shipment cargoes. Offers from China and the Commonwealth of Independent States were for departure at the end of December or the beginning of January.

There was also market chatter that some Chinese traders were trying to offer cargoes for...

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