South American flat steel import prices rise on September-shipment talks

Flat-rolled steel import prices increased in South America during the week ended Friday July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin, market participants told Fastmarkets.

"Freight from China... was heard to be still rising. This is creating big headaches for traders," a mill source said.
A vessel shortage and less boarding room in secured ships brought volatility to freight rates, according to participants. Customers were also concerned about potential tax changes in China that have the potential to dramatically change prices.
That scenario contributed to a liquidity reduction in the South American import market.

Deal-making was expected to improve soon in Brazil, on the other hand. Members of the country's capital goods association, Abimaq, were quoting more imported material following an effort from the association to seek alternatives abroad, participants...

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