Brazilian steel and iron ore producer Usiminas is trying to apply a 20% increase in prices for its flat steel products to industrial clients, chief executive officer S?(C)rgio Leite said on Friday February 9.
The move follows an increase of around 20% in annual price contracts with carmakers."We concluded negotiations in late December with carmakers, regarding our pricing contracts in 2018, and we implemented price increases of around 20%," Leite told analysts during a conference call with analysts on Friday."We are negotiating with industrial clients [an increase] similar to the one made to the automotive industry,...