According to Brazil's National Institute of Steel Distributors (Inda), it is expected that the prices in the Brazilian domestic steel plate market will remain stable in the coming months.

Carlos Loureiro, the president of Inda, mentioned that domestic steel mills are displaying resilience and resisting further price decreases. He anticipated no significant changes in the short term.

With the reactivation of blast furnace 3 at Usiminas in Ipatinga, southeastern Brazil, the supply of domestic steel plates is expected to increase. Loureiro also highlighted international steel prices will become more stable.