Brazilian steel mills plan to raise prices from the beginning of 2020

It is reported that from January 2020, Brazilian steel producers plan to raise the prices of long steel and flat steel products by 8% - 15%, aiming to recover the profit squeezed by the rising cost of raw materials in 2019.

According to S&P Global Platts, Brazilian steelmakers' profits will fall by at least 30% in 2019 as the cost of iron ore and metallurgical coal denominated in US dollars rises. According to its assessment, despite repeated attempts by steel mills to raise prices, the prices of hot rolled steel coil and long steel products in Brazil will drop by 13% and 14% year-on-year respectively in 2019.

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