Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is considering a 30 percent price increase for the steel it sells to the automotive sector, a company executive said this week during CSN’s earnings conference.
CSN’s announcement comes after a similar announcement from flats producer Usiminas, which said it is negotiating a 25 percent price increase on the steel it sells to the local automotive sector.
CSN’s commercial executive director, Fernando Martinez, said CSN expects automotive-related steel prices will increase at least 25 percent, and if successful, the increase would be effective in early 2018.