Brazilian steelmaker Usiminas will increase domestic steel prices by an additional 5% in January 2020, following a previous notification of a 5% hike to be implemented in the fourth quarter this year.
The company saw the opportunity to raise its flat-steel prices amid the unfavorable currency exchange for imports in the country and the current global uptrend, commercial vice president Miguel Homes said on Friday November 29."We saw room for a 5% increase in the fourth quarter, which will happen towards the end of the year," the executive told analysts and investors at a meeting in S??o Paulo. "Now we are announcing an additional 5%...