CSN and Gerdau to take advantage of stronger steel prices

Wednesday, 30 December 2020 10:56:36 (GMT+3)   |   Sao Paulo
       

Brazilian steelmakers Companhia Siderurgica Nacional (CSN) and Gerdau should both benefit from appreciated steel prices in the export market as well as stronger domestic demand in Brazil, a report from Credit Suisse said.

Without disclosing a specific price hike forecast, Credit Suisse said local steelmakers are expected to increase flat steel prices in Q1 2021.

The bank said “one major” Brazilian steelmaker is expected to increase flat steel prices in early 2021. Credit Suisse didn’t name the steelmaker but said the company would hike prices by 5 percent.

Credit Suisse said higher iron ore prices and improved domestic demand in Brazil make it possible for steelmakers to increase steel prices.


Most Recent Related Articles

Excellent scenario for Brazil’s CSN, says investment firm

Peruvian iron ore export prices up in November

Vale to report strong results in 2021 despite limited output

AGC survey: Most US contractors expect shrinking demand for construction this year

Mining investments in Peru drop in Jan-Nov