South American flat steel import prices jumped in the week to Friday, Feb. 26, boosted by a rapid rise in bulk freight rates and higher offers from Chinese mills that returned to the market after the New Year holiday. Fastmarkets reports that.
Steel offers partially withdrawn
By the end of the week, some of the offers previously presented on the continent were withdrawn due to uncertainties regarding delivery. Lower freighter availability in Asia increased freight costs by more than $30 per ton in some cases, disrupting the overall import market.
Bulk freight costs on the China-South America route were $55-75 per ton this week.
“Did the whole world win the lottery or what? Prices are not going to stop going up,” a second Brazilian trader told Fastmarkets.
Steelnews.biz constantly searches the Internet for important, interesting and informative news.
Are you missing an information, do you have a question or are you interested that we refer to a certain article or press release of Steelnews.biz? Then simply contact us now.
We always try to refer to the correct source of a news item.
Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.