Brazil’s Usiminas to raise steel prices by 5%~10% from Mar.

Reportedly, Brazil’s steelmaker Usiminas was going to increase the steel prices by 5%~10% from March 15th, according to the vice president of the company.

It’s known that Usiminas had been forced to offer discount on the product to compete against cheaper import materials.

Besides, the company has being suffering the pressure of higher production costs from iron ore and coal. 

Meanwhile, the company sold 1.58 million tons of steel in last fourth quarter, down by 7% year on year.