Brazilian steel producers announce across-the-board price increases

Brazilian steel and iron ore producer CSN announced a 10 percent increase of the price for all steel products in its line, including flat and long products, effective from Jan 1, 2023. Meanwhile ArcelorMittal Tubarão informed that it has increased the price of HRC, CRC and zinc-coated in average by 10 percent, without specifying the rate per product, also effective from the first day of the year. For its turn, Usiminas informed that its prices will increase by 9 to 12 percent, depending on the product line, which includes HRC, CRC and heavy plates, effective from January 16 onward. According to sources, the new prices will lead to a premium around 15 percent, in relation to the equivalent imported product after clearing customs.