It is learned that Brazil’s Companhia Siderurgica Nacional (CSN) planned to raise steel prices for domestic market again this year, after the steel has recorded sales record in the first quarter of this year.
The company’s sales director Luis Fernando Martinez said that the Brazilian government incentives are driving investment and consumption of steel in the country, which sectors of white goods, construction, packaging and automotive industries are showing good prospects for the remainder of this year. CSN expects its averaged steel prices will raise 5 to 8 % between April and June compared to the first quarter.
CSN closed the first quarter with a 82 % drop in net profit, despite of the steel sales record of 1.55 million tons. The result reflected a fall of almost 40 per cent in sales of iron ore after breaking important equipment in the Casa de Pedra mine in January.
