Brazilian flat steelmakers were ready to announce to distributors an increase in their prices for early October, because of reduced competition from imported material, according to national flat steel distribution association Inda.
Producers were announcing a 10% price increase to remove discounts that have been granted to domestic buyers, according to Inda president Carlos Loureiro."By October 7, all flat steel producers should start applying new prices," Loureiro told Fastmarkets on Tuesday September 24.But the price increase was threatened by a weak domestic market for flat steel products.Sales volumes for flat-rolled steel reported by Brazilian...