BRAZILIAN USIMINASPOVYSIT steel prices
The second-largest steel producer in Brazil, Usinas Siderurgicas de Minas Gerais SA (Usiminas), decided to raise the March prices for steel products by 6-12% for traders, said in a research report Banco Santander SA.
Usiminas each quarter of 2012 ended with a net loss. So, last week, the company reported in Q4 of last year, a loss of R $ 323.8 million, more than twice exceeded analysts#39; expectations. On the negative financial result was influenced by the fact that production costs are rising faster than steel sales.
Now, however, increasing the March price, the company expects to thereby increase annual EBITDA by about 85 million reais ($ 42.9 million).
Recall that from January 20, Usiminas steel prices have increased by an average of 5%. Moreover, in mid-February, Vice President Sergio Leite (Sergio Leite) admitted that from April prices may be increased for industrial customers. Last time prices for industrial consumers rose in July, 2012
