Up 16.5 Percent YTD in 2021 from Same Period in 2020.

The United States’ imports of finished steel products increased moderately month on month but ballooned year on year in September.

Adjusted year-to-date production through October 23, 2021 was 77,019,000 net tons, at a capability utilization rate of 81.3 percent.

Some of these higher offers, especially those for high-grade material, have gained acceptance in the market and deals have been concluded at these levels.

Liquidity has been reduced on the spot market, with producers having low volumes of material available.

“We remain bullish on 2022 [steel demand in Brazil],” Werneck said. “For flat steel, the outlook is positive.”

On Thursday, Fastmarkets approached the company for comment, but Ferroglobe officials had not confirmed the furnace restart at the time of writing.

The downward move was also seen as a correction to the price gap that emerged between spot and tender prices last week.