Steel producers in Brazil will have difficulty implementing price increases at the beginning of the year due to still high steel imports into the country, the president of the National Institute of Flat Steel Distributors, Inda, Carlos Loureiro, said on Wednesday .
According to the director, “there are rumors in the market” regarding price increases for flat steel from domestic mills of between 5% and 7%, but they refer to a price increase for February.
“With the current (international) price level, it is not enough for the mills,” Loureiro said. “I see difficulties in implementing the increases,” he said in an interview with journalists.
The INDA president also commented that the increase in the volume of steel imports to Brazil in December compared to November “was surprising”.
According to data from Inda, imports of flat steel from Brazil in December amounted to 276.9 thousand tonnes, approaching last year’s peak recorded in September. Compared to November, flat steel imports grew by 30.6% and compared to December 2022, they increased by 67%.
Source: Terra
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