Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said the local steelmaker is recovering better than expected during Covid-19, according to a media report by Reuters.
The company’s commercial director, Luis Fernando Martinez, said sectors that had been heavily hit by Covid-19 are now operating at 80 percent their capacity, and should reach a capacity use of 95 to 100 percent.
The executive expects an improved scenario for the domestic steel market in the second half (H2) of the year.
Additionally, CSN said it will increase steel prices for the industrial segment by 10 percent in August. It will also hike distributor steel prices between 10 to 12.5 percent in September, Martinez said. The executive said the price hikes are due to the increased cost of raw materials.