August 24, 2018 / 3:21 PM / in 8 months

UPDATE 1-Brazilian steelmaker CSN to raise prices by 10 percent

(Updates with comment from the company)

SAO PAULO, Aug 24 (Reuters) - Brazilian steelmaker Companhia Siderurgica Nacional said on Friday it will raise the price of steel by 10.25 percent from Sept. 3.

CSN, as the company is known, confirmed the hike for steel priced in Brazilian real in a statement after local newspaper O Estado de S. Paulo first reported the rise.

The real has weakened significantly in recent weeks, hitting its lowest point since early 2016 and resulting in higher costs for raw materials that are usually priced in dollars. (Reporting by Marcelo Rochabrun Editing by Susan Thomas)

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