Cost increases superimposed demand rises Brazilian steel has announced increases

The Brazilian steel producer may usiminas and arcelormittal brazil to follow suit to raise steel prices after the Brazilian State Steel Corporation (csn) announced a 10.5 per cent increase in the price of its distribution chain steel, according to the Brazilian Flat Steel Sales Association. inda said both usiminas and arcelor mittal brazil should do the same because covid-19 led to higher costs for steel companies. inda president carlos lorero said the price increase should be around 10%. Despite low domestic demand for steel, state-owned steel companies in usiminas and brazil should continue to raise prices as parts of the civil construction and home appliances sectors pick up slightly, mr. lorero said. In contrast, domestic due to the continuation of rainy weather in East and South China, terminal demand is still difficult to release effectively, business shipping difficulties have obvious improvement, spot uplink resistance is greater. Construction steel demand still needs to wait for improvement, high thread production and even the risk of accumulation. It is worth noting that the recent hot coil orders and demand has improved significantly, inventory decline is obvious, some areas appear lack of specifications. At present, waiting for the rainy season in East and South China past, demand or continue to push up steel prices, and the recent Dragon Boat Festival replenishment demand, steel prices are expected to support.

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Post time: Jun-24-2020