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Financial News: BRAZIL: Steel Distributors See No Room For Steel

BRAZIL: Steel Distributors See No Room For Steel Price Increase In 2017

11/22/2017 - 18:40:00 (RTTNews)

(RTTNews) - The Brazilian steel industry should abstain from further price increases in 2017, as falling prices in the United States and China, as well as the proximity of the year-end, leave no room for adjustments, said Carlos Loureiro, president of the Brazilian Institute of Steel Distributors (Inda).

"I do not see room for a price change this year, but next year, it should depend on the U.S. dollar and prices abroad. For 2018, we expect readjustments to the automobile industry. It is important not to increase prices only for the distribution network, as it was in 2017," Loureiro said.

He added that domestic steel sales should fall 1.9% in 2017 - a smaller decline than the 6% fall forecast earlier this year - and increase 4% in 2018.

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