Brazilian flats steelmaker Usiminas expects domestic steel prices in Q4 this year to remain stable.
The company’s commercial director, Miguel Camejo, told investors and analysts last week that average steel prices for the domestic market in September remained similar as prices seen in Q3. As a result, Camejo said the company doesn’t expect steel prices to increase in Q4 this year.
Camejo said Usiminas gave Brazilian steel distributors a 7 percent discount for steel purchases in late-September to keep up with “market conditions.”
He said that equality of prices between the imported and the domestic steel should provide a basis for stable domestic steel prices in Q4 this year.