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Brazilian Usiminas plan to raise steel flat product prices by 5%~7%
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It’s reported that Usinas Siderurgicas de Minas Gerais S.A (Usiminas) planned to increase the prices for most its steel flat products by 5%~7%.
Usiminas’ input costs of imported raw material increased as the Brazilian Real depreciated in the Q2 and the local market condition was bad.
Therefore, Usiminas hopes to compensate the squeezed profits by raising the steel prices.
However, as the Brazilian Real started to appreciate against the US dollar this month, it may hinder Usiminas to raise prices successfully.
News Date
7/5/2012 8:35:07 AM
reported by
Caroline Bian
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