Usinas, the Brazilian steelmaker, is going to increase its steel prices for distributors by 12% next month. The new price adjustment will apply to some steel products and ranges from 6% to 12%.
The policy of price up is expected to boost the company’s earnings before interest, taxes, depreciation and amortization this year by about US$42.9 million.
In the background, on 18th Feb Usiminas has reported a Q4 profit loss of 323.8 million reais, meanwhile, it has also hiked the price by 5% in January and would be a second price increase in July.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63220&division=A9
