South American flat steel import prices recover on China absence

Import prices for flat-rolled steel products edged upward in South America during the week to Friday February 12 with deals settled at prices a little higher than previously, in the absence of Chinese exporters from the market.

Offers from China were scarce ahead of the Lunar New Year holiday, February 11-17. But some traders were still trying to sell a remainder of April-shipment cargoes from the East Asian country before an expected cut in the tax rebate was implemented.
Meanwhile, clients on the region's Pacific coast accepted higher offers from Japan and Brazil while China was away from the market.

Fastmarkets' price assessment for steel plate, import, cfr main ports South America, was $675-690 per tonne on Friday, up from $670-680 per tonne a...

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