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High US dollar drives price increases in Brazilian steels - 6 July 2012

The recent appreciation of the US dollar by 10% against Brazil's real has stimulated Brazilian steelmakers to raise prices between June and early this month by 4-8% for flats and 8-9% for longs.

Some distributors were informed in early June about the price hike, while others are said to be receiving the notices this week.

"This recent announcement is not in addition to the ones made in June. Some customers tried to negotiate (away) the increase, but were only able to postpone it for a month," said a source.

As reported, price hikes are in effect from local producers Usiminas, ArcelorMittal, CSN and Gerdau, which are trying to recover margins after posting weak results in recent quarters.

 

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