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Article: Brazil: arcelormittal to raise Brazilian flat steel prices by 10pct.
- Article from:
- TendersInfo
- Article date:
- October 1, 2009
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Dow Jones reported that ArcelorMittal is expected to raise flat steel prices in Brazil by 10% through reducing discounts. The information came from Brazil's second largest independent steel distributor Frefer.
Brazil's steel distributors account for around 30% of domestic flat steel sales, which are expected to reach 3 million tonnes this year. ArcelorMittal's move comes after local rivals Companhia Siderurgica Nacional and Usiminas withdrew similar price discounts earlier this month.
Mr Christiano da Cunha Freire president of Frefer said that steel distribution has been the target for price increases because it was the sector that cut its ...