Usiminas May Not Raise The Steel Price Again in The Short Term

Brazilian steelmaker Usiminas said it may not raise the steel price again in the short term after it lifted up prices twice this year. The company will adjust the price by following the change in the international market.

The company said that though the price upward movement in US and China but stable in Europe, it will remain the price in the domestic market.

Usiminas and other steelmakers, CSN and ArcelorMittal hiked prices twice in the first quarter of this year and also increased prices in March.

At present, the domestic hot rolled coils (HRC) sold around BRL1,755~BRL1,835/ton Col rolled coils (CRC) prices are at BRL2,110~BRL2,170/ton. However, the current prices seem lower due to the current higher US dollars.