South American steel import market strengthens with China mostly absent

The South American flat-rolled steel import market strengthened during the week ended Friday April 9, with clients accepting what little material was available from China and other origins at higher prices.

"Customers on the South American Pacific coast seem to be increasingly anxious that they may not be able to receive firm offers for June shipment from Chinese mills [and] already started to accept our initial offers," a source from a mill outside of China said.
In Brazil, traders had few, if any, material to offer, while buyer appetite remained strong.
Most China-based mills were refraining from offering material for June shipment to South America due to uncertainties regarding the Asian country's export tax rebate. There has been reports in the market of a rebate cut for steel products since January.

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