Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is considering a 27.5 percent price increase for the steel products it sells to the local automotive segment, a company executive said late last week during an earnings call with analysts.
The price hike is planned for early 2019, according to Luis Fernando Martinez, CSN’s commercial director. CSN negotiates steel prices for the local automotive sector on an annual basis, and Martinez said this year’s negotiations are near completion.
Last year, CSN increased steel prices for automakers by 22 percent, effective for 2018.