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Brazil's Usiminas eyes steel price hike for automakers -CEO

Brazil's Usiminas eyes steel price hike for automakers -CEO
From Reuters - November 22, 2017

SAO PAULO, Nov 22 (Reuters) - Brazilian steelmaker Usiminas Siderugicas de Minas Gerais SA is currently discussing a 25 percent steel price hike with automakers and hopes to conclude talks by the end of December, Chief Executive Sergio Leite said on Wednesday.

Speaking to analysts and investors, Leite added that the company, known as Usiminas, may discuss resuming production at a plant in the city of Cubato if 2018 economic growth in Brazil shows signs of surpassing 2.5 percent. (Reporting by Alberto Alegiri Jr.; Writing by Gram Slattery Editing by Chizu Nomiyama)

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