Credit Suisse: Brazil's steel prices may rise again in Jan
According to analysts of Credit Suisse, it is possible that there is another increase in the price of flat steel in the Brazilian market for January, between 10% to 15%.
Analysts said Brazilian steelmakers are using recent international benchmark increases for steel, such as high input costs, with iron ore prices reaching US$150/ton and booked order volume as arguments to raise prices even more.
In addition, analysts commented that negotiations with vehicle manufacturers are underway and that Brazilian steelmakers expected to increase prices of between 30% to 40% by 2021 at this time.
