Gerdau weighing demand, costs before raising Brazil steel prices

The current trading environment would support higher domestic steel prices in Brazil, but low demand and a decrease in the cost of ferrous scrap were being considered before any adjustments were announced, steelmaker Gerdau has said.

“We will continue to watch how consumption evolves in the country to decide whether or not to increase prices,” chief executive officer Gustavo Werneck told investors in a conference call on Wednesday May 8. “But there is a chance of prices moving in the second quarter.” According to chief financial officer Harley Scardoelli, domestic long steel products were being sold at the...

Published

Renato Rostás

May 13, 2019

20:18 GMT

São Paulo