No clear trend in South American steel import prices as buyers await Nov offers

South American flat-rolled steel import prices ended the week on Friday August 28 showing no clear trend because deals for October-shipment cargoes were very scarce, and customers were still waiting to hear offers for November shipments.

Demand was improving in the region from recent lows caused by Covid-19-related restrictions, but market participants believed that consumption had yet to return to pre-pandemic levels.
Among Pacific-coast countries, Chile remained the most active in foreign trade, while Peru and Colombia were showing signs of a slower recovery, according to market participants. In Brazil, a volatile currency exchange rate was still making clients wary of booking imports.
“I do not think that customers’ sales volumes have 100% recovered yet,” a source from a mill said.

“Consultations and deals in South America are not yet back to pre-pandemic levels,” a US-trader added.

It will take time to resume the business in South American.

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Post time: Sep-01-2020
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