Brazilian steelmakers were dissuaded from trying to impose further price rises in the domestic market, because of falling Chinese prices and a stronger exchange rate for Brazil's Real, the president of national distributors' association Inda, Carlos Loureiro, said on Tuesday October 23.
Flat-steel maker Usiminas, for example, had planned a 5% rise for November, according to Loureiro, "[but] this is already out of question," he said.The current market environment actually made it difficult for distributors to decide whether to buy more steel, because they could not sure at which price it would...