South American flat steel import prices again higher as Chinese uptrend persists

Flat-steel import prices were mostly up in South America this past week, as Chinese mills made higher offers ahead of negotiations for August shipments.

Demand, however, has not significantly recovered in the region, as some countries are still enforcing quarantines to prevent Covid-19 from spreading. On the other hand, higher customer interest was reported in Brazil after foreign exchange rates turned more favorable.
The currency exchange was $1 per 5.09 Reais on Friday June 5, compared with an all-time peak of 5.90 Reais on May 14.
Fastmarkets assessed the price for steel hot-rolled coil import, cfr main ports South America at $450-470 per tonne on Friday, up from $445-465 per tonne a week before. This was the highest level since $450-480 per tonne on March 27.

Chinese offers to the Pacific Coast of South America were generally at $460-465 per tonne, although...

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