As metalbulletin.com reports, the upward trend in prices for imported flat steel in South America continued in the week up to Friday, December 4. Offers from China, Japan and Brazil were all at higher levels.
Rising costs of steel products are a major problem
At the same time, however, market participants continued to see significantly lower bids. They described the rising costs of steel products as a major problem this year.
Europe, Japan and China are demanding drastic price increases
“This upward trend shows great pressure on the automotive and packaging sectors. New annual contracts are currently being negotiated here. Suppliers from Europe, Japan and China are demanding drastic price increases because of the current shortage of supply,” said one source at one plant.
Price estimates for hot-rolled steel coils, import, cfr major South American ports, had risen by $35-70 per ton to $640-690 per ton on Friday. A week earlier they were $605-620 per ton.
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