In the first two months, Guangdong's import and export with Brazil and Chile increased by 24.8 percent and 14.4 percent, respectively, it said.

Demand has remained steadier for longer than the market had expected, with talk of a recession pushing further out into the year and lessening in severity.

The Argus US plate ex-works assessment has been relatively flat at around $1,480/st since early December.

Coal shipments from Gladstone were at a record low in February following a derailment outside the port.

US steelmaker Evraz North America has increased its prices for flat steel products.

US integrated steelmaker Cleveland-Cliffs has increased its flat steel prices by $100/short ton (st), targeting a minimum hot-rolled coil (HRC) price of $1,200/st.

The plant will use biogas feedstock and iron ore as a catalyst to also produce 380 t/yr of graphitic carbon, he said.

The Argus weekly domestic US HRC Midwest and southern assessments both increased by $50/short ton (st) to $1,150/st.