Brazil Steelmakers Raising Domestic Prices By 5%-8% - Distributor

Date : 07/04/2012 @ 6:56PM
Source : Dow Jones News
Stock : Sid Nacional ON (CSNA3)
Quote : 8.42  0.16 (1.94%) @ 6:45PM
CSN share price Chart

Brazil Steelmakers Raising Domestic Prices By 5%-8% - Distributor

Historical Stock Chart

5 Years : From Mar 2013 to Mar 2018

Click Here for more CSN Charts.

RIO DE JANEIRO--Steelmakers Usinas Siderurgicas de Minas Gerais SA (USIM5.BR), or Usiminas, and ArcelorMittal Brasil are raising their product prices by 5% to 8%, a steel distributor who purchases from the companies said late Wednesday.

The increases are being charged on flat steel products sold to the domestic market, said Christiano da Cunha Freire of Sao Paulo-based distributor Frefer Metal Plus - Klockner & Co.

Companhia Siderurgica Nacional SA (SID, CSNA3.BR), or CSN, hasn't yet announced any price increase, according to the distributor.

A spokesman for CSN said he couldn't yet confirm any price hike when asked Wednesday by Dow Jones Newswires.

A spokesman for Usiminas said the company doesn't comment on its pricing policy.

Barclays Capital said in a research note earlier Wednesday that the Brazilian real's recent depreciation against the dollar, coupled with easing steel imports, may favor local steel price increases. However, higher prices are risky for steelmakers as domestic steel demand remains sluggish--including in the auto sector--global pricing is moving sideways, and local competition is rising, Barclays said.

Write to Diana Kinch at

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:40 V:us D:20180321 01:29:13