Steel import prices rise in South America amid global uptrend, client rush before holidays

South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.

Fastmarkets' latest price assessment for steel hot-rolled coil import, cfr main ports South America, was $500-515 per tonne on Friday December 13, a three-month high and up from $485-500 per tonne a week before.
China-origin material was being offered at $500-510 per tonne to the Pacific coast of the region, while Japan-origin HRC was offered at $520-525 per tonne, both for February shipment. Brazilian products would go to those countries at $510-515 per tonne.

Clients were bidding lower than most offers - closer to $505 per tonne. Trader and mill sources expected settlements to be closer to the top end...

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