South American steel import prices mostly stable as September negotiations start

The majority of import prices for flat-rolled steel in South America were static during the week to Friday July 3 with market participants gauging the interest for September-shipment cargoes in the region, but some prices increased due to higher offers from China.

"We expect [to see] some requirements and inquiries from Ecuadorian customers [during August shipment negotiations, rather than only from Chile and Peru]," a mill source told Fastmarkets.
South American nations were gradually reopening their businesses following the quarantine measures used since April to combat the Covid-19 pandemic. The infection rate, however, was still regarded as too high, and countries such as Chile were enforcing new, specific regional restrictions.

In addition to the Covid-19 problem, Brazil also struggled to order new import cargoes due to foreign exchange issues. The country's currency was trading at 5.33 Reais to $1 on Friday, compared with 5.30 Reais to $1 a month earlier, and with 4.02...

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