Brazil's Usiminas, the largest flat steel producer in the country, plans to increase prices for some products since March 1st in order to boost the company's margins.
It is said that Usiminas informed distributors that prices for HR, CR and Coated products would increase by 6% to 8%, which come on top of an average of 5% hike in this January. Besides, distributors also said that CSN is also testing the waters with a potential increase for March, but the two companies are declined to comment.
According the Brazil's Steel Institute, steelmakers in Brazil will like to see a recovery in sales and a reduction of excess capacity next year as result of recent government measures to revive growth are bearing fruit.