Sluggish market holding back steel price increases in Brazil, INDA says

Poor demand has made it difficult for Brazilian steelmakers to increase domestic prices and pursue import parity, but a supply-side relief may soon provide support for rises, according to the country’s steel distributor institute, INDA.

A sluggish market so far in 2023 has prevented most mills from trying to raise domestic offers, INDA executive president Carlos Loureiro said on Tuesday March 21. They were able...