Brazil’s Usiminas to increase domestic steel prices by 5% in January

Brazilian steelmaker Usiminas will increase domestic steel prices by an additional 5% in January 2020, following a previous notification of a 5% hike to be implemented in the fourth quarter this year.

The company saw the opportunity to raise its flat-steel prices amid the unfavorable currency exchange for imports in the country and the current global uptrend, commercial vice president Miguel Homes said on Friday November 29.

“We saw room for a 5% increase in the fourth quarter, which will happen towards the end of the year,” the executive told analysts and investors at a meeting in São Paulo. “Now we are announcing an additional 5%...

Published

Renato Rostás

December 02, 2019

21:32 GMT

São Paulo