Brazil's CSN seeking price rises of 30-45% to carmakers

Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) was close to concluding negotiations with automotive producers to raise its prices for steel under annual contracts in 2021 by 30-45% across different products, commercial director Luis Martinez said on Thursday December 10.

For hot-rolled coil, the increase was expected to be 40-45%, while the company was aiming for a 30-35% rise for galvanized steel, Martinez said during an investor meeting.
Anfavea, the Brazilian carmakers’ association, said on Monday that talks with mills were tough, and that they were offered a minimum 30% increase.
“Iron ore prices have skyrocketed this year, and the dollar has strengthened against the [Brazilian] Real,” Martinez said in the meeting on Thursday. “There is no way we would be able to raise prices by a smaller percentage, because we need to recover from that cost inflation.”

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Felipe Peroni

Renato Rostás

December 10, 2020

19:48 GMT

São Paulo