A roughly 11 percent increase for the price of HRC, announced earlier this month by the Brazilian producer Usiminas, has not been implemented so far, a source with access to a local distributor told SteelOrbis.
“It was set to be in force last week, but is now scheduled for August 1,” the source said, adding that it’s not the first time this year that price increases have been announced and subsequently cancelled or delayed.
According to the source, with a 10.7 percent increase, HRC prices would go up to BRL 4,391/mt ($1,404/mt), ex-works, full taxes except IPI, a price that under the current BRL/$ exchange rate, would give additional advantages to imported HRC.
The source added that he will not be surprised if the price increase is postponed again.
USD = BRL 3.14 (July 20)