A medium-sized distributor in Rio de Janeiro told SteelOrbis that HRC prices will increase for domestic sales by 10 percent effective as of January 10.
He mentioned that he was already warned by the steel producer that the price for the next shipments will increase by the same rate.
According to the source, the increase was not adopted immediately to avoid a reduction of the domestic sales. With the increase, sales of small to medium-sized volumes will be closed at BRL 4,160/mt ($1,292/mt), ex-works, full taxes except IPI.
1 USD = BRL 3.22 (January 6)