The developments of the Brazilian domestic market continue to follow movements in the Brazilian Real. During September, the BRL lost 9 of its value against the USD (see chart), which gave room for additional hikes in Brazilian domestic prices. As such, distributors and service centres implemented a price hike of 8 m/m for long products valid from 01 October. According to market participants, this hike may curb some sales in the very short term, but the very low level of imports in the last few months, alongside the low availability of material in the spot market, will force buyers to accept the new price list.
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