Brazilian flats steelmaker Usiminas increased flat steel prices by 10 percent effectively on September 2, following a similar move by competitor Companhia Siderurgica Nacional (CSN).
Usiminas’ flat steel price hike follows a recent depreciation of the Brazilian real (BRL) over the USD.
According to an Aug. 30 SteelOrbis report, domestic HRC prices at the distributor level were at BRL 4,000/mt ($985/mt), ex-works, full taxes except IPI conditions, referring to the 1008/1012 grades.
As of Sept. 6, domestic HDG prices at the distributor level were at BRL 4,900/mt ($1,207/mt), ex-works, full taxes except IPI, having the Z-100, 1.11mm thickness product as reference.
USD = BRL 4.06 (Sept. 7)