STXNEWS LATAM-Sustainability of Brazil steel price hikes under question-BofA

Tue Feb 26, 2013 7:42am EST

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Potential price hikes for flat steel products and higher import tariffs could create a positive momentum for Brazilian steelmakers, but such developments are generally priced in, analysts at Bank of America Merrill Lynch led by Thiago Lofiego said on Tuesday. "Although this is a clear positive for flat steel players in Brazil, we question the sustainability and think such hikes might not be fully implemented," Lofiego said in a client note.

Bank of America Merrill Lynch analysts remain cautious on the outlook for the industry in Brazil.

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