Brazilian steel prices to recover at start of 2020, Gerdau says

Brazilian steelmaker Gerdau is expecting domestic steel prices to remain unchanged until year-end, but an improvement could be seen at the beginning of 2020 if demand recovers, chief executive officer Gustavo Werneck said.

Although foreign exchange rates have been volatile in Brazil, and domestic price premiums were seen in negative territory at some times, current dynamics suggest stability for the remainder of 2019, the CEO told reporters during a conference call on Wednesday October 30.
“We usually work with higher domestic premiums [over import prices] than those we have been seeing recently,” Werneck said while discussing third-quarter earnings.

“[A tighter price differential] indeed makes room for...

Published

Renato Rostás

October 30, 2019

16:40 GMT

São Paulo