Brazilian steel producer Companhia Sider??rgica Nacional (CSN) will pursue another price increase of 10% for its flat steel products, because of the current high prices for imported material in the country, chief executive officer Benjamin Steinbruch has said.
"We have a possibility to recover [steel] prices by 10%, depending on the product," Steinbruch said during a conference call with analysts to discuss CSN's financial results on Thursday May 9."We will apply this price increase, and we believe in a recovery of steel demand," he added.At the moment, domestically produced hot-rolled coil (HRC) is around 4-7% cheaper than imported steel, according to CSN. Usually, domestic producers try to maintain prices around 10-15% higher than imported steel."Mathematically, we have space to increase prices by 10%, and this is what we will pursue," commercial executive...