Brazilian flats steelmaker Usiminas will reportedly increase finished steel prices in July by 10 percent, according to a media report from Valor.
The company’s CEO, Sergio Leite, said the 10 percent price hike was announced to clients in May and planned for June.
However, the flats producer didn’t apply the price increase due to a countrywide strike by local truck drivers, which lasted over a week.
SteelOrbis understands the price hike covers HRC and CRC and reach both the industrial segment and the local distribution chain.