Brazilian flat steel producers seek 5-8% price increases in 2020 contracts with automakers

Brazilian flat steel producers are seeking price increases of around 5-8% in 2020 annual contract talks with automakers, according to several market participants.

Automotive producers in Brazil are usually supplied under annual contracts.
"Steelmakers are trying to apply price increases of 5.5-7% to carmakers," Inda president Carlos Loureiro said on Tuesday December 17.

Another market participant said producers were pushing for increases of around 5-8%. "But carmakers...

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