Brazilian steelmaker Companhia Siderurgica Nacional (CSN) will increase steel prices by up to 15 percent in April, according to a Valor media report. According to the media report, CSN plans to increase the price of certain products by 10 percent, while others, such as rebar, would increase by 15 percent. The price increase will take effect on April 1, 2021.
Adjustments due to weak BRL currency
Luiz Fernando Martinez, CSN’s commercial director, said the price increases are due to a weaker BRL currency against the USD, the price of certain USD-denominated raw materials and steady domestic steel demand.
Martinez said HRC sells at $760/mt-780/mt in China, while the same product sells at a much cheaper price in Brazil. However, he did not give a specific price for the product in Brazil, Valor said.
Source: valor.globo.com
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