Brazil’s CSN plans flat steel price increase by June

Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) will try to apply price increases to flat steel products next month, to compensate for the recent loss of value of the local currency.

“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.
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Published

Felipe Peroni

Renato Rostás

May 15, 2020

23:13 GMT

São Paulo