Brazilian automakers see 'tough' price negotiations with steel producers

Automakers in Brazil expect that ongoing negotiations for annual price contracts with steel producers will be “tough on both sides,” according to Luiz Carlos Moraes, president of national auto association Anfavea.

Cost increases are one of the main challenges the sector faces in its gradual recovery from Covid-19-related lows, the association said on Friday November 6.
Steel prices for automakers are negotiated in annual contracts with suppliers. Prices on those contracts rose by around 5% in January 2020. Since then, prices to distributors and select industrial clients have risen substantially.

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Felipe Peroni

November 06, 2020

22:30 GMT

São Paulo