According to media reports, Brazilian steelmaker Gerdau and ArcelorMittal Brazil have increased long steel prices by 3 percent as a result of a nationwide strike by Brazilian truck drivers, which may cost $1.1 billion to the local steel sector, as previously reported by SteelOrbis.
A media report by Valor citing the nation’s civil construction industrial chamber (CBIC), said the price hike was announced on June 8. The two companies were not immediately available for comment.
CBIC said the local civil construction industry usually raises construction material prices every 12 months. A CBIC executive said the segment will need to absorb the increased long steel prices.
The last-reported long steel prices in the Brazilian domestic market were BRL 4,514/mt ($1,232/mt), ex-works, full taxes except IPI, referring to sales from distributors to customers, as reported by SteelOrbis on May 25.
USD = BRL 3.66 (May 25)