Companhia Siderúrgica Nacional (CSN), a Brazilian steelmaker, will raise steel prices on February 22.

According to the plan, heavy plate and hot-rolled coil prices will be increased by 5%, cold-rolled coil prices will be hiked by 6%, and zinc-coated and galvanized steel prices will be raised by 7%.

Because of the increased cost of iron ore, coal, and energy, Brazil's steel manufacturers are phasing out steel discounts.