CSN sees room for price hikes in Brazil as net sinks in qtr.

May 17, 2013 | 01:53 PM | Ana Paula Camargo

Tags  CSN, Brazil price hikes, Luis Fernando Martinez, Casa de Pedra Mine, Daniel dos Santos, iron ore, Ana Paula Camargo

SÃO PAULO — Flat steel prices from Brazil’s Cia. Siderúrgica Nacional SA (CSN) to its domestic market are expected to increase 5 to 8 percent sequentially during the second quarter, according to commercial executive director Luis Fernando Martinez.

"We see room for further price increases in the Brazilian market in the second half of this year, as the premium (the difference between domestic and import tags) in the country is at 10 percent at the moment," he said May 16 in an earnings conference call.

Global steel producers will increase their prices starting in July in an attempt to "survive," Martinez said. "Mills have been recording net losses, and there are two measures to take to overcome this situation: reduce costs or increase sales prices."....

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