A Sao Paulo-based distributor told SteelOrbis that a 5 to 10 percent price increase for long products and structurals is yet to come in the next contracts, but admitted Gerdau and other steel mills usually raise prices by 7 percent.
According to the source, wide flange beam profiles have been traded domestically among distributors at FOB BLR 2350/mt ($869.29/mt).
On October 2014, sources said the same product was being sold in a price range of FOB BRL 2630-2641/mt ($972-976.93/mt).
The recent performance of rebar prices in the global market plus the weakening of Brazil’s Real made local steelmakers, including Gerdau, CSN and ArcelorMittal, to become more confident to increase prices domestically.