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In the United States, prices for cold-rolled coil and sheet and galvanized steel sheet have risen last week (16 July, 2021) to an all-time high of over $100 per cwt. And in South America, flat steel imports are becoming increasingly expensive due to high freight rates and significantly increased Chinese steel prices. 

Stainless Espresso: US CRC prices over $2,000 per short ton
Stainless Espresso: US CRC prices over $2,000 per short ton

US CRC prices up approx. 226% since August 2020 

US CRC prices just keep skyrocketing, source told us. Steel sheets – like cold rolled and galvanized steel sheet – have reached new records as they climb past the $100 per hundredweight ($2,000 per short ton) milestone. Prices are now up nearly 226% after falling to their 2020 low of $31 per cwt in August.

Source: gerber-steel.com

South American flat steel imports becoming more expensive  

Due to rising freight costs for Chinese exports, South American flat steel imports are becoming increasingly expensive. This is causing liquidity problems.

Shortage of ships and containers

A shortage of ships and containers is causing volatility in freight rates. South American customers have also had to cope with export tax changes in China, which have already had a strong impact on prices.

South American traders are therefore currently facing greater challenges in securing supplies of flat steel.

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