Brazilian steelmaker Usiminas has announced a 10% average price increase for all flat-rolled products effective from March, the president of national steel distributors' association Inda, Carlos Loureiro, said on Tuesday January 21.
A mismatch between current global and domestic prices, coupled with the rising cost of slab purchases, would justify the rise, Loureiro said in an announcement on Monday.
Other major flat steel suppliers such as Companhia Sider??rgica Nacional (CSN) and ArcelorMittal Brasil were expected to follow the same path soon, the Inda president said.
Brazilian flat steel producers have
already implemented a total 10% average increase across all products this month.
"Usiminas does not comment on prices," a spokeswoman for the company, Brazil's largest flat steel producer, told Fastmarkets.