“With the current value of the dollar [versus the Brazilian Real]
, a price increase is unavoidable; it is a matter of survival,” commercial director Luis Martinez said during the company's first-quarter earnings
conference call on Friday May 15.
He did not specify the amount of the planned price increase, but said that prices of domestically produced hot-rolled coil are 12-15% lower than HRC imports from China, after taxes and other import expenses.
Fastmarkets most recently assessed the price for steel hot-rolled coil, domestic, monthly, exw Brazil at 2,636-2,655 Reais ($460-463) per tonne on May 8, stable from the previous month.