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Financial News: USIMINAS: Steelmaker To Increase Prices Again, By 13.1%

USIMINAS: Steelmaker To Increase Prices Again, By 13.1%

08/19/2017 - 09:03:00 (RTTNews)

(RTTNews) - Brazilian steelmaker Usiminas said it will further increase the price of products directed to the distribution network by 13.1% as of September 1. The reason, according to the company, is "the readjustment of steel prices in the international market."

This was the latest Usiminas' adjustment price announced in about a month, since the company had already disclosed a 10.7% increase in hot rolled products (as of August 1), 10.4% in galvanized coils (from August 1) and 5.6% in thick plates (as of August 20).

Other Brazilian steelmakers have also made recent adjustments due to higher prices abroad. Companhia Siderúrgica Nacional (CSN) announced a 12.5% increase in all products and for all customers as of August 25.

The increases are expected to have a positive impact on Brazilian steelmakers results.

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