Brazil's Gerdau expects international steel prices to remain at current levels throughout 2019, but is concerned about trade conflict pressure, president and chief executive officer Gustavo Werneck said on Wednesday November 7.
Market fundamentals are expected to be supportive for long steel, the company's main product, due to the US Section 232 tariffs leading to increased steel prices in the United States as well as strong demand from China. But trade disputes between the US and China could threaten that outlook, Werneck noted.The Brazilian steel market typically follows global pricing trends; price increases are only possible now given recovering demand. Fastmarkets' monthly domestic rebar price assessment in Brazil was...