Flat steel prices in the Brazilian domestic market have increased in August because of recovering steel demand and high import prices, with further price rises to be imposed next month, Fastmarkets heard on Monday, August 17.

Producers have fully applied the previously announced price increases for flat steel products, and market participants believed that steelmakers will succeed in applying a further average price increase of 10% for September.

Fastmarkets’ latest price assessment for steel hot-rolled coil, domestic, monthly, EXW Brazil, was 2,800-2,885 Reais ($516-532) per tonne on August 14, up from 2,745-2,795 Reais per tonne on July 10.