South American flat steel import prices mostly down after Brazil, Russia reduce offers

Most prices for flat-rolled steel products imported into South America were down during the week ended Friday October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in the region.

While some offers from China emerged at higher levels, following a week-long holiday in the Asian country, reduced export availability to South America made other origins more important for price formation on the continent.
Japan-origin material was also offered at lower levels during the week, albeit still at a premium over material from other countries.
Hot-rolled products
Fastmarkets' price assessment for steel plate, import, cfr main ports South America, was $1,065-1,090 per tonne on Friday, widening downward slightly from $1,070-1,090 per tonne a week before.

While a few market participants received Chinese offers to Chile at $1,080-1,090 per tonne, others heard that $1,065-1,070 per tonne was feasible in Colombia. Also, Brazil-origin plate was expected...

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