According to a June 4 press release, Companhia Siderurgica Nacional (CSN) and ArcelorMittal will be increasing prices for hot rolled coils (HRC) on June 14 and June 10, respectively. CSN has announced a 10.75 percent increase, while ArcelorMittal will be raising prices by 10 percent.
CSN will also raise prices for coated (galvanized coil) products on that same day, although the increase will be 2.5 percent less than the increase announced for HRC.
Both companies have indicated increased costs for the raw material iron ore as being the primary driver behind the upped pricing. CSN earlier indicated an expectation that their contract prices for iron ore could raise by as much as 35 percent, due to Vale's having nearly doubled their iron ore price since the beginning of 2010.