Inda, Brazil’s steel distributors association, said there is “no room” for a hike in steel prices, according to media reports.
Inda’s president was quoted as saying falling prices in the US and China leave no room for a price hike in steel prices for the remainder of 2017. He reportedly said the upcoming holiday season will also contribute to stable prices through the end of this year.
As for next year, prices would depend on currency rates versus the US dollar, along with steel prices overseas.
The Inda executive forecasted domestic steel prices to show a decline of 1.9 percent in 2017, year-on-year, but increase 4 percent in 2018, also on a year-on-year basis.