Brazil’s steelmaker Usiminas has announced that it increased its steel prices for the steel distributors on April 12.
Steel prices increased by 10pc for hot-rolled coil and hot-dip galvanized, and rose by 5pc for cold-rolled coil and heavy plate, according to a media outlet.
Usiminas did not respond to queries from Davis Index about the matter at the time of the publication.
Brazil’s steelmaker Companhia Siderúrgica Nacional (CSN) may increase as well by 10pc its steel prices in April and Gerdau may increase its flat steel prices by 8-10pc, Brazil’s National Institute of Steel Distributors (Inda) said in March, the media outlet noted.
CSN increased by 25pc its prices for HRC, CRC in March due to a hike in the raw material prices. In addition, CSN is planning another price hike of 20pc during the second quarter this year.
Brazilian flat steel distributors’ sales rose by 9.8pc to 312,300mt in February, from 284,600mt in the same month the prior year, according to Inda. Brazil’s crude steel output rose by 3.8pc to 2.8mn mt in February, from 2.7mn mt produced in February 2020, according to the Brazilian steel association (Iabr).