Import prices for South American flat steel products in South America continued their nearly three-month uptrend as Chinese material was presented at higher levels for March 2021 and April 2021 shipments following ongoing domestic strength.
Interest from buyers went quiet ahead of the year-end holidays, however, market participants said. Most clients were waiting to see if prices would correct down next month, while some of the few orders placed were rejected by mills expecting the uptrend to continue.
*** American flat steel , steel plate
Fastmarkets’ assessment for steel plate import, cfr main ports South America was $670-690 per tonne on Thursday December 24, up by $35-40 from $635-650 per tonne on December 18.
The only sale reported during the week was for Japan-origin material to the Pacific coast, at $670 per tonne. New offers of Chinese heavy plate were presented at $705-710 per tonne, mostly for shipment in March 2021, while clients were trying to negotiate lower, at $680-690 per tonne.
Also significantly higher was Fastmarkets’ assessment for steel hot-rolled coil import, cfr main ports South America at $770-800 per tonne on Thursday – a $60-80 increase from $690-740 per tonne in the previous week.
The majority of China-origin HRC was offered at $770-780 per tonne to the Pacific coast of the region and at $780 per tonne to Brazil. A handful of offers, however, were reported at $790-800 per tonne.
Meanwhile, trader sources reported material from the Commonwealth of Independent States being presented at $800 per tonne to Brazilian customers. Brazilian and Japanese mills had not yet issued March-shipment offers to the Pacific coast of South America.
Discrepancies in activity levels as well as offer prices and shipment times among several Chines producers resulted in an unusual scenario where cold-rolled products were sometimes being offered at the same or even higher prices than galvanized coil.
*** American flat steel , cold-rolled coil
Fastmarkets assessed steel cold-rolled coil import, cfr main ports South America at $850-870 per tonne on Thursday, soaring by $70-80 in comparison with $770-800 per tonne on December 18.
Despite Chinese CRC being sold to one Brazilian client in the beginning of the week for $850 per tonne, new offers were closer to $870 per tonne by Thursday. Pacific-coast clients received offers at similar prices, but at least one mill from China was reported offering its March-shipment cargoes at $925-930 per tonne.
*** hot-dipped galvanized
Fastmarkets’ assessment for steel hot-dipped galvanized coil import, cfr main ports South America increased by $45-50 to $860-885 per tonne on Thursday from $810-840 per tonne the week before.
Most offers were presented at $880-885 per tonne, with some trader sources mentioning $870-875 per tonne on the Pacific coast and $880 per tonne in Brazil as the tradable level. Additionally, some discounted offers were presented at $860 per tonne to a few Brazilian clients.
Fastmarkets also assessed steel coil Galvalume import, cfr main ports South America materially higher at $965-990 per tonne on Thursday, up by $90-95 week on week from $870-900 per tonne on December 18.
The majority of offers from China were presented at $985-990 per tonne, with some being reported at $965 per tonne.
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