Brazil's Usiminas believes its steel prices could increase by 4-5% until the second quarter of 2019 given the global uptrend in place, the company's commercial vice president, Miguel Homes, said during a conference call on Friday February 15.
The steelmaker is assessing the landscape before taking any steps regarding new prices. Usiminas' internal target is to maintain domestic prices no more than 7-10% above imports, according to Homes.Meanwhile, the company confirmed a price increase of around 25% for auto producers. Carmakers usually sign annual supply contracts. Negotiations with Asian producers, whose fiscal year starts in April, are underway, Homes said.Flat steel producers such as Usiminas adjusted prices upward by 20-25% for distributors and some spot industrial clients in 2018.At year-end, the steelmarkers granted some discounts to avert an import surge as global prices went down. This month, there...