Brazilian steelmakers will increase their prices next month, mainly for long and flat steel products.
Gerdau will raise its flat steel prices between by 8-10.5pc for long steel products and by 6pc-9.5pc for flat steel products, a source at the Brazilian steelmaker told Davis Index without disclosing further details.
ArcelorMittal Brazil will also increase its steel prices by 8pc for coated steel products and by 10pc for other products on July 3, while the Companhia Siderúrgica Nacional (CSN) will raise its prices by 10.5pc, according to media reports.
Usiminas is also considering prices increases in July, according to the reports.
In January, the Brazilian steelmakers increased their prices because the local currency was weak and international prices were elevated.
Brazil’s crude steel production dropped by 22.6pc to 2.1mn mt in May compared to the same month in 2019, according to figures from the World Steel Association.