Brazilian domestic prices for flat steel products were stable this past month despite attempts from steelmakers to apply price increases.
Some mills have been trying to raise prices due to decreasing competition from imported material, but low demand has been hampering those efforts.Local steelmaker Usiminas announced on October 28 that it was applying an increase of 5% in prices to distributors."Indeed, Usiminas [increased prices], but no one is buying at higher price levels," a source said.One month earlier, Brazilian steelmakers announced price increases of 8-11%.But...