There’s a BOGO Sale on Companhia Siderurgica Nacional (ADR) (SID)

Brazilian flat-steel makers were able to raise prices to distributors by as much as 8% recently with CSN hiking its own prices for hot-rolled steel coil by 7.2% and for cold-rolled sheets and galvanized products by 3.5%. Usinas Siderurgicas de Minas Gerais is looking to raise prices for some steel products between 6% and 12%. There may be some question as to whether the price hikes can stick, but the harsh spiral of falling prices that sharply affected the results of Arcelor, United States Steel Corporation (NYSE: X), and AK Steel Holding Corporation (NYSE:AKS) seem to have finally been reversed in Brazil.

Then there is the 2014 Football World Cup and the 2016 Summer Olympics that Brazil will host. These events tend to spark large rounds of infrastructure improvements, but many are publicly wondering whether Brazil will be ready in time. If for no other reason than to save face, it’s safe to assume the government will direct a lot of resources to these projects in the year ahead. Brazilian mini mill specialist Gerdau SA (ADR) (NYSE: GGB), which is supplying steel to all 12 stadiums involved in the football tournament, said last month it expects spending to accelerate this year on those venues.

Massive stimuliThere’s still weakness, of course, as global capacity slipped to 71% in January from 75% a year ago, according to the world steel group, but the government announced a $66 billion 25-year stimulus program last summer that will be invested in the country’s road system and railroads. Some 60% of that money will be spent within the next five years.

Global economies are still shaky to be sure, but most are moving in the right direction and Companhia Siderurgica Nacional as one of the biggest steel players will benefit from the trends moving in its direction. Let me know in the comments box below whether you agree this Brazilian steelmaker has what it takes to build its stock price back up.