Brazil Steel Prices May Rise Again In January

According to Credit Suisse analysts, it is possible that in January the Brazilian market will see another rise in flat steel prices from 10% to 15%.

Analysts say Brazilian steelmakers are using recent increases in international steel benchmarks, such as high raw material costs with iron ore prices hitting US $ 150 per tonne and recorded order volumes as arguments for further price increases.

In addition, analysts noted that negotiations with car manufacturers are ongoing and that Brazilian steelmakers expect prices to rise by 30-40% by 2021 at this time.
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