CSN will raise steel prices in Brazil by 10% as of January 1st, said the company’s commercial director, Luis Martinez, this Thursday (16th) in a meeting with analysts and investors.
According to the executive, the increase will serve to maintain the price difference between imported and domestic steel at around 12%.
Steel prices on the international market have risen in recent weeks amid the easing of social isolation measures in China and the prospect of economic support packages by the largest producer and consumer of the alloy in the world.
The prospect of greater steel consumption in the Asian country has also pushed up input prices.
Iron ore futures on the Dalian Exchange hit a new six-month high on Thursday, while Singapore’s benchmark price for the steelmaking ingredient rose above $110 a tonne.
Source: CNN Brasil
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