Steel price hikes shed uncertainty over Brazil’s civil construction industry

Monday, 15 March 2021 00:21:20 (GMT+3)   |   Sao Paulo

The Brazilian civil construction industry expects the local steel industry to increase steel prices once again in April and May, according to a media report by Valor citing industry sources.

Several home builders, which buy large quantities of steel products, said ArcelorMittal and Gerdau should increase steel prices between 30 and 35 percent in April. The media report said price hikes might affect the local civil construction industry in different ways, as prices are often negotiated on a case-by-case scenario.

A source in the report said it managed to negotiate a 4 percent price increase, given its capacity to predict steel purchase volumes. The report also said Brazilian steelmakers are already mulling another steel price hike of up to 20 percent in May.

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