Steel price rises to Brazil carmakers above 20% in 2019, Usiminas says

Price increases for the steel supplied to carmakers in Brazil may exceed 20% in 2019 despite the downward price trend in China, the chief financial officer of Brazilian steelmaker Usiminas, Alberto Ono, said on Friday November 23 during an investor meeting.

Steelmakers are discussing next year’s contracts with the automotive industry and initially set rises of 25.00-27.50%. Companhia Siderúrgica Nacional (CSN), for example, expects to impose a 27.50% rise. “Our commercial department is sure about increases above 20%,” Ono said. “We...

Published

Renato Rostás

November 23, 2018

18:40 GMT

São Paulo