Brazil steelmaker Companhia Siderurgica Nacional (CSN) expects to raise domestic steel prices in Brazil by 10 percent in June, executives said this week during a company conference call.
After increasing steel prices in April and May this year for the steel local distribution chain, the steelmaker is now seeing room for a third hike in June, said Luis Fernando Martinez, CSN’s commercial director, and Benjamim Steinbruch, the company’s CEO.
According to Martinez, despite the decreased steel prices in China, Brazil domestic steel prices are still 5-10 percent less when compared to global steel prices, whose difference would justify the hike.
The executive said it will look to raise steel prices for industrial clients as well.