Brazil's CSN to raise flat steel prices by 16-18% in May

Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) will increase domestic flat-rolled steel prices by 16-18% in May, following the upward trend in other global markets and in an attempt to offset raw material cost inflation, commercial executive director Luis Martinez announced during the company's first-quarter earnings call on Thursday April 29.

CSN's hot-rolled coil prices will rise by 16%, cold-rolled by 18% and galvanized products by 16.5%, according to two sources who saw letters that the company sent to customers.
The company's average realized prices rose by around 25% in the first quarter versus the preceding three months, and were on course to rise by 22-28% sequentially in the second quarter, Martinez said during the call.
CSN is targeting more spot deals to supply its clients, he said. Contracts that were historically more longer-term - annual and semiannual - tend now to be set quarterly.

"Currently, we have around 70% of our sales tied to the distribution and construction sectors, as well as to industrial clients...

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