Posted on 28 Aug 2018
Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) is set to increase its steel prices for industry, construction firms and distributors from 3 September, the company said in local media reports monitored by Kallanish.
According to the reports, the upward adjustment is necessary because of the recovery of raw material prices in the international market and growing production costs. It is also a reflection of the current depreciation of the Brazilian real against the US dollar, with the rate at BRL 4.1 per dollar. This raises the price differential between domestic and import offers to more than 6%.
CSN is expected to adjust its prices by 10.25% for flat and long steel. It will be the second increase of levels after the steelmaker implemented a 12.25% hike for flat steel and 10.75% for galvanized products in early August.
It is expected that ArcelorMittal, Usiminas and Gerdau could also raise their prices in September, sources suggest
