Brazil's Usiminas will seek higher steel prices to ease discount to imports

Brazil’s largest flat-rolled steel producer by capacity, Usiminas, is looking to correct the current domestic price discount to imports in the short term, commercial vice-president Miguel Homes said on Thursday July 30.

Even after steelmakers raised prices by around 10% earlier in July, Homes said, local products remained at a 10% discount to imports. But he did not provide any additional information on the timing and magnitude of the potential increase to close the gap.

“We raised prices by around 10% to the distribution sector, but international prices have since increased by around 15%,” Homes said in the company’s conference call to discuss its second-quarter earnings. “This means the parity premium...

Published

Renato Rostás

July 30, 2020

19:40 GMT

São Paulo