South American flat steel import prices stable to slightly higher; countries start to reopen

Import prices for flat-rolled steel into South America were steady to slightly higher during the past week, with market participants already reporting a slight recovery for some materials despite the bulk of negotiations for July shipment having yet to take place.

Peru and Ecuador were still under a quarantine period aimed at preventing the spread of Covid-19, but were gradually expected to start reopening in the coming weeks.
Chile, while not subject to lockdowns or broader quarantines, has been under a curfew for the past month and a half. Some neighborhoods in the capital of Santiago were expected to close off in an effort to deal with the pandemic, potentially affecting industrial output and steel demand.

On top of the pandemic, currency exchange was increasingly becoming an issue for Brazilian importers. The currency exchange rate was 5.78...

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