Brazilian steelmakers Companhia Siderurgica Nacional (CSN) and flats producer Usiminas will raise steel prices in December, according to media reports.
The reports that CSN would also increase steel prices came after Usiminas indicated there was room for a steel price hike, given the fact that flat steel prices in the domestic market are cheaper when compared to the exported product.
CSN’s commercial director, Luiz Fernando Martinez, said the company increased steel prices by “up to” 12 percent, effectively on December 1. CSN attributed the increase steel prices to higher production and iron ore costs.
Additionally, Carlos Loureiro, president at flat steel distributors association, Inda, said Usiminas will increase flat steel prices by 10.2 percent, effectively on December 5.