South American steel import market trend unclear on fewer offers from China, CIS

Prices for flat-rolled steel imported into South America ended the week to Friday August 27 with no clear trend amid market illiquidity caused by fewer offers from China and a fewer available products from Commonwealth of Independent States.

For hot- and cold-rolled coil, prices increased week on week following fewer offers from CIS-based mills, which were pressuring figures downward. The majority of other steel products were stable since there was almost no change for Chinese offers in the same comparison.
Market participants were more concerned about freight rates to the region. Some continued to report maritime costs close to $100-110 per tonne for China-South America routes, while others started to hear $120-140 per tonne in the market.
"I am sure the freight rate is still rising because there are port congestions and shipment delays in China ports and South America ports," one ex-China mill source said.
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