China, India crimp Latin American steel prices

Nov 30, 2004 | 05:38 AM | Diana Kinch

Export prices for pig iron and steel from Latin America slid $10 to $30 a tonne last week due to the onset of an end-of-year slowdown coupled with high export levels of some products from both China and India, according to Brazilian traders.

"Nobody's buying," a trader in São Paulo, Brazil, said. "Activity has fallen off significantly in the Far East, and in the U.S. the big buyers are stocked up until April or May. Everybody's waiting for prices to fall further before buying any more."....

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