ArcelorMittal and CSN seek steel price increases as much as 7.5% in Brazil

Bloomberg quoted a person with knowledge of the plan saying that “ArcelorMittal the world’s largest steel maker and rival Cia Siderurgica Nacional SA are seeking to boost prices for some steel products in Brazil by as much as 7.5%.”

The person said that “ArcelorMittal and CSN informed clients that prices in Brazil will rise 3.5% to 7.5% next week.” He added that “Declining to be named as the companies haven’t made an announcement. The increase reflects higher iron-ore and coal costs and an attempt by the companies to boost profit margins.”