Better-than-expected Brazilian steel demand will support 10% price increase: Inda president

The Brazilian steel industry's performance has been better than expected during the Covid-19 pandemic and, aside from automakers and auto parts producers, all steel consuming sectors are gradually recovering, according to Carlos Loureiro, president of the local steel distributor association Inda.

Higher demand, along with a rise in iron ore and global steel prices, is providing mills with the fundamentals to increase domestic prices in July by an average of 10%, he added. Companhia Siderúrgica Nacional (CSN) announced a 10.5% increase, and ArcelorMittal will up prices by 8-10%, Fastmarkets understands.
“Distributors expect Usiminas and Gerdau will soon formally announce price rises too,” Loureiro told Fastmarkets on Tuesday June 23. “Taking all mills into account, the average increase may be 10%, and it will probably be implemented.”

Data from Inda,...

Published

Renato Rostás

June 23, 2020

22:50 GMT

São Paulo