Votorantim Siderurgia, Brazlian steel long product maker has hiked the domestic prices by 2.5%, effective form July 1st.

Raul Calfat, the CEO of Votorantim Siderurgia said that the firm will continue to raise the prices further if the Brazilian Real keeps appreciating.

In the second quarter of this year, the average selling prices of steel long products in the Brazilian domestic market were at BRL1,897/to, higher than BRL1,800/ton in the same period of a year ago.

In the background, Votorantim Siderurgia has two steel long product plants in Brazil and it owns the whole shares in the Argentina’s steel long producer Acerbrag. Also, it owns 72.38% shares at Colombian Acerías Paz del Río.