Steel import price slide persists in South America on vanishing buyer appetite

Flat steel import prices continued to slide in South America on lower offers, mainly from China, and while customer interest disappeared from the market due to the Covid-19 pandemic.

"Anyone who was in the market is now away from it," a Brazil-based trader said. "Some importers are actually temporarily halting activities." 
May-shipment volumes are already down by at least 50% from expected figures. Offers for June material are starting to be issued, with market participants expecting the market weakness to persist.
"I haven't heard anything from clients in the past week," a second Brazil-based trader added. "No one is even consulting at the moment."

Most sources said the main factor behind low client interest was not price...

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