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Brazilian CSN to raise prices of flat steel up to 8%
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It is reported that Companhia Siderurgica Nacional (CSN), Brazil's second largest manufacturer of flat steel, planned to raise prices for most products by 5% to 8 % at end of July.
It’s said that the company has informed distributors this week that the prices of cold-rolled steel product will be raised by 5% and hot-rolled steel will be increased by 8% at the distribution level.
CSN is just like its biggest competitor Usiminas, suffered a lot by the depreciation of Brazil's currency, which dropped 9 % in this Q2.
Last week, Usiminas hiked the prices for rolled steel and other specialty products between 5 to 7 % in order to cover the losses.
Analysts said local prices of long steel products have already begun to rise and further increases are expected in coming months.
News Date
7/13/2012 12:35:15 AM
reported by
Raul Lee
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