Prospects for the Brazilian steel market are uncertain right now because of slow economic activity in the country, and any price increase depends on a recovery, Usiminas' commercial vice president Miguel Homes told investors during a conference call on Thursday April 18.
"We are expecting the second quarter of the year to be better than the first one," the executive said. "But everything depends on better economic data. In the meantime, we will continue monitoring the indicators."Usiminas increased most of its steel prices by 10% this month, with raises amounting to 15% for zinc-coated products. After the readjustment, domestic levels are now around 5% higher than imports, according to Homes; that compares with a traditional 10-15% premium.As the Chinese uptrend doesn't seem to end...