South American steel import market on uptrend, but buyers stick to previous bids

South American import prices for flat-rolled steel were higher during the week ended Friday July 17, with more expensive offers from both China and Japan, market participants have told Fastmarkets.

But clients were still bidding at their previous, lower levels in an attempt to prevent the increases being imposed on September-shipment cargoes, they added.
Fastmarkets assessed the price of steel hot-rolled coil, import, cfr main ports South America at $475-500 per tonne on July 17, widening upward by $5 per tonne from $475-495 per tonne a week before.
Sources reported deals for Brazil-origin HRC on the Pacific coast of the continent settling at $475-480 per tonne recently. These countries also received offers of Japanese material at $495-500 per tonne, and of Chinese products closer to $500 per tonne.

China-origin HRC was also being presented to Chile, Peru and Ecuador at prices higher than $500 per tonne, reaching...

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