SAO PAULO: Brazilian steelmaker Usinas Siderurgicas de Minas Gerais- Usiminas has announced a price hike beginning on April 12, according to an Itau BBA analyst note on April 12.

Analyst Daniel Sasson said in the note to clients that prices of hot rolled steel will rise by 10% and those for other products will rise by 5%. Sasson said the information was confirmed by two steel distributors and that this would be Usiminas' third price hike this year.