Gerdau posts firm earnings despite slumped shipments

摘要

Gerdau, the largest long steel producer in Americas, managed to maintain firmfinancial performance in Q1 in the face of slumped shipments.The company’s consolidated crude steel production lost 19.7% year-on-year, comingto 3.3 million t in January-March, while its shipments slumped by 22.9% toalmost 3 million t. The drop in figures reflected “the asset divestments concludedin the previous year, namely the operations in Chile and India and most rebar unitsand wire rod unit in the United States,” Metal Expert learnt.