Brazil’s steelmaker Companhia Siderúrgica Nacional (CSN) will increase its steel prices in May due to a price hike in the raw material, the appreciated USD over BRL, and an increase in steel prices in the international market.
Prices for the cold-rolled coil will climb by 18pc, hot-rolled coil prices will increase by 16pc, prices for metallic sheets will rise by 16.75pc, and prices for zinc-coated plated, galvalume, and pre-painted will up by 16.5pc, Luis Fernando Martinez, executive director at CSN told a media outlet.
The prices of raw material have increased by 150pc, Martinez said, adding that the prices for iron ore climbed to $192-$193/mt, from $90/mt in January 2020.
CSN did not disclose information asked by Davis Index at the time of the publication. This is the fourth steel increase developed this year by the South American steelmaker.
CSN’s steel sales increased by 16pc to 1.31mn mt in Q1, from 1.14mn mt in Q1 2020, and iron ore sales climbed by 47pc to 8.22mn mt in Q1, from 5.61mn mt in Q1 2020, the steelmaker said in its earnings statement released on April 28, without disclosing its crude steel production.