Gerdau's wide-flange steel beam prices up 5% in 2013
Prices for Brazilian steelmaker Gerdau's (NYSE: GGB) wide flange steel beam rose 5% in 2013, from 3,430 reais/t (US$1,424/t) in January to 3,600 reais/t in December, news service InfoMet reported.
In 2013, prices for Gerdau's beams ranged between 3,650 reais/t in September and 3,430 reais/t in January, reaching a high of 3,480 reais/t in August 2012.
Beams sold to Brazil's distribution chain currently reach 3,650 reais/t, the report said.
In August 2013, Gerdau started operations at its flat steel rolling unit at the company's subsidiary Gerdau Ouro Branco, formerly known as Açominas, located in Minas Gerais state.
The project's total investment was budgeted at 2.4bn reais.
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