Low steel purchases, inventories limit Brazilian year-end discounts, but 2023 price hikes loom

Consumers’ low steel purchases and inventories in Brazil are preventing a wave of end-of-year discounts and supporting the announcement of increases for early 2023, sources said. “I believe prices went down enough for 2022,” said a flat steel distributor source, who already received price hikes announcements for the start of 2023. In the survey of Brazilian producers, distributors, traders, and…