Brazilian steelmaker Gerdau already plans to increase its domestic price for steel rebar by 6-8% in August, chief executive officer Gustavo Werneck told journalists in a press conference on Wednesday August 5.
A previous increase of around 10% was already almost fully applied across June and July, according to the CEO. Stronger-than-expected demand from the construction sector and a discount over imported material were factors supporting the next price move, he added.Gerdau is also planning to raise domestic prices in September for flat steel - an 11% increase. Besides long steel, the company also makes hot-rolled...