October 28, 2016 / 2:12 PM / 2 years ago

BRIEF-Usiminas says room for more steel-price hikes this year

Oct 28 (Reuters) - Usinas Siderurgicas de Minas Gerais SA , or Usiminas, held a conference call with investors on Friday after releasing its third-quarter 2016 financial results.

* Brazilian steelmaker Usiminas says it has 2/3 of its coal under contract, 1/3 of coal is bought on spot market

* Usiminas executives say they expect Brazil economy to show growth in 2017 but at low level

* Usiminas says room for new increase in steel prices in Brazil in the next two to three months -commercial director

* Usiminas says it is negotiating a price increase with Brazil automotive industry -commercial director

* Usiminas expects to invest $350 million reais in 2017 -CFO says

* Usiminas says prices in Brazil automobile industry are about 20 percent to 30 percent below those in general distribution market -commercial director

* Usiminas is already feeling the impact of higher coal prices in cost of steel slabs bought from CSA -executive Source text for Eikon: Further company coverage: (Reporting by Jeb Blount)

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