The price of most flat-rolled steel products imported into South America rose during the week to Friday August 7 after mills around the world engaged in successive increases and clients rushed to close deals, market participants said.
The demand recovery from the drought following restrictions to curb the Covid-19 spread since April as well as rising raw material and semi-finished steel costs supported these higher prices, participants said."At first, clients rejected the increased offer prices, but then new rises came and scared them," a Brazil-based trader said. "So there were deals but mostly to restock and...