Gerdau freezes price increase attempts in Brazil amid low demand, analysts say

Gerdau has halted price increase attempts in Brazil amid market weakness because of the Covid-19 pandemic, according to a report by local investment bank Ita?? BBA from Sunday March 29.

The company mainly produces long steel in the country, although it also makes some hot-rolled coil and heavy plate at its Ouro Branco mill in the south-eastern state of Minas Gerais.
Domestic prices are currently at a 10% discount, or more, over imports after duties, taxes and overall costs, chief financial officer Harley Scardoelli and investor relations manager Rodrigo Maia told Ita?? BBA analysts in a meeting.

"The main challenge comes from low utilization rates seen across the Brazilian steel...

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals