Brazilian steelmakers put price rises on hold as currency strengthens

Brazilian steelmakers were dissuaded from trying to impose further price rises in the domestic market, because of falling Chinese prices and a stronger exchange rate for Brazil’s Real, the president of national distributors’ association Inda, Carlos Loureiro, said on Tuesday October 23.

Flat-steel maker Usiminas, for example, had planned a 5% rise for November, according to Loureiro, “[but] this is already out of question,” he said.

The current market environment actually made it difficult for distributors to decide whether to buy more steel, because they could not sure at which price it...

Published

Renato Rostás

October 23, 2018

20:22 GMT

São Paulo