Brazilian slab export prices increased by $10 per tonne in the week ended Friday July 31, with offers up amid a revival in demand in most buying markets.
United States' mills list prices for domestic steel beams have held their ground even with mills offering rebates, while prices for imported product have fallen, sources said, noting the steel industry is seeing steady to improving demand.
The United States government has been threatening to reduce an existing quota for imports of semi-finished steel products from Brazil in 2020, national steel institute Aço Brasil said on Monday July 27.
US plate prices were unchanged for the third week in a row, with sources disagreeing on whether the market has plateaued or reached a bottom.
The hot-rolled coil price in the United States was largely unchanged in a quiet spot market, sources said, pointing out that concerns on a resurgence in Covid-19 cases was stopping buyers from purchasing more steel.