Up to last Friday (March 28), hot-rolled prices in the Brazilian market finally dropped after maintaining steady for ten consecutive weeks. The main factor that caused this decline is believed to be the decreasing demand of the automobile industry. 

According to market insiders, as the oversupply problem remains unsolved, it is possible that prices could go further lower. Currently, main buyers in the local market tend to bargain about the price and most of the suppliers hasten to sell their products as the market demand continues shrinking. 

A detailed prediction suggests that by May, the prices of flat-rolled products could drop further by 10% to 15%.