Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais (Usiminas) foresees stable prices for its production in the fourth quarter of 2018. So said the company’s ceo, Sergio Leite, during the third-quarter earnings conference call with analysts monitored by Kallanish.

“Steel prices in the last three months of the year will be stable,” Leite observed. “We will maintain current levels, after implementing a 10% increase in Q3.” Usiminas is currently negotiating a price adjustment for its long-term contracts for the supply of flat steel products to the local automotive sector in 2019, he adds.

The steelmaker is studying the opportunity to build a new galvanizing line as well as to upgrade Ipatinga’s blast furnace #3. Usiminas is expected to discuss these investments, as well as the future of the Cubatão plant in mid-2019, according to the ceo.

Usiminas increased its crude steel output by 11.2% year-on-year to 845,000 tonnes in Q3. Over January-September crude steel production amounted to 2.37 million tonnes, up 5% on the same period in 2017 (see Kallanish 29 October).