CSN urges Brazilian steel industry to raise prices amid higher costs, international uptrend

Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) called for the industry to push forward on price increases in the domestic steel market, given the international uptrend and higher cost inflation.

“The steel industry needs to be intelligent in the current business environment to take advantage from more expensive imports and ease the pressure from costlier iron ore,” CSN commercial director Luis Martinez said in the company’s second-quarter earnings call on Wednesday July 31.
“We have to regain profitability,” he added. “We are seeing prices going up in China and in the United States, and their margins still seem compressed.”

CSN attempted to readjust domestic prices upward by 10% in June and...

Published

Renato Rostás

July 31, 2019

23:35 GMT

São Paulo