Brazil’s CSN announces 10-12.5% price increase for domestic market

Brazilian steel producer Companhia Siderúrgica Nacional (CSN) plans to implement a 10-12.5% price increase for its flat steel products sold to local distributors, its commercial executive director Luis Fernando Martinez said on Wednesday July 29.

The move is motivated by tight supply and rebounding demand, with the country’s main steel-consuming sectors recovering from effects of the Covid-19 pandemic.
“The situation is favorable for a price correction now,” Martinez said during the company’s second-quarter earnings call.

Its most-recent 10% price increase for flat steel, which it announced in May, has already been fully applied,...

Published

Felipe Peroni

July 30, 2020

05:35 GMT

São Paulo