Brazil’s steelmaker Companhia Siderúrgica Nacional (CSN) will increase its prices for cold-rolled and hot-rolled coil by 25pc in March, compared to Q4 2020 price levels, due to a hike in the raw material prices.
In addition, CSN is planning another price hike during the second quarter this year of 20pc, Luis Martínez, the company’s commercial director said during an earnings call, adding that the company increased its steel prices by 19pc in the fourth quarter of 2020.
Besides this, there is high demand and limited supply of slabs, which cost about $750/mt, Benjamin Steinbruch, CSN’s chief executive officer said, adding that slabs are now only available for delivery in May, arriving in Brazil in June or July.
CSN’s total mining production fell 20pc to 30.6mn mt in 2020, from 38.3mn mt in 2019. The company’s slab output increased by 1.6pc to 3.55mn mt in 2020, from 3.49mn mt produced the prior year, and its long steel production fell to 216,000mt in 2020, from 223,000mt in 2019. The company did not disclose its crude steel production volume.
Brazil’s crude steel production and domestic steel sales in 2021 are expected to increase by 6.7pc to 33mn mt and 5.3pc to 20.3mn mt, respectively, compared with last year. Steel consumption is also expected to increase by 5.8pc to 22.4mn mt, the Brazilian Steel Institute (Aço Brasil) indicated on Feb 22.