Brazilian flats steelmaker Usiminas may raise flat steel prices in December, the company said in a meeting with investors this week. The company said flat steel prices domestically are cheaper when compared to the imported product, which gives Usiminas room for another price hike.
Additionally, Usiminas is also expected to renegotiate flat steel prices for the automotive sectors. Generally speaking, Brazilian steelmakers negotiate steel prices for the automotive sector by year-end. Usiminas said flat steel prices for the automotive sector should increase by 25 percent due to increased costs and a stronger depreciation of the Brazilian Real (BRL).