Outlook remains bullish for steel prices, Brazil's Usiminas says

The outlook for steel prices remained bullish in Brazil in March and April, with a broader global uptrend, raw material cost inflation, and strong demand from end-user and for restocking were supporting increases to clients, Usiminas commercial vice president Miguel Holmes said on Friday April 23.

The flat steel producer calculated the domestic premium over imports to be negative at 3-5% after duties, overall costs and currency exchange effects, in comparison with the company’s target of 8-12%. Usiminas would continue to evaluate seeking that target, Holmes added.
That premium takes into account mostly spot material sold to distributors. The company also raised its prices by 60% for carmakers with yearly contracts starting in April, and announced increases to selected industrial clients with quarterly supply deals.

Brazilian steelmakers usually follow global price trends to decide...

Published

Renato Rostás

April 23, 2021

19:33 GMT

São Paulo