AT A GLANCE: Gerdau sales down 10% in Q1 on Brazil weakness

摘要

A summary of Brazilian steelmaker Gerdau’s financial results in the first quarter of 2020, as stated in its earnings report on Wednesday May 6. ? Sales volumes and financial performance weakened year-on-year with all of the company’s divisions affected by lower demand in the last 15 days of March due to the Covid-19 pandemic. ? The North America unit reported stronger results amid higher consumption from the construction sector in the United States. ? Margins in the North America unit declined, with the metal spread – the difference between ferrous scrap costs and finished steel prices – of $410 per short ton in the first quarter representing a year-on-year decrease from $495 per short ton.