The Brazilian steel and iron ore producer Usiminas posted a net profit of BRL 1.06 billion ($205 million) for the second quarter, against BRL 1.26 billion during the previous quarter. During the period, the company’s EBITDA increased by 24 percent to BRL 1.93 billion.
By volume, domestic steel sales increased by 9 percent to 948,000 mt, while steel exports declined by 4 percent to 141,000 mt.
Iron ore sales in volume to its own steel production increased from 463,000 mt to 595,000 mt, other domestic sales increased from 147,000 mt to 180,000 mt and iron ore exports increased from 1.000 mt to 1.614 mt.
During the second quarter, the domestic steel sales were destined to the auto industry (36 percent), the distribution chain (29 percent), the civil construction sector (14 percent), industry in general (12 percent) and domestic appliances (9 percent).
During the period, the exports were destined to Argentina (46 percent), Europe (40 percent), Colombia (10 percent), Mexico (3 percent) and other destinations (1 percent).
Speaking in a conference with analysts, Alberto Ono, the president of Usiminas, mentioned that in the third quarter the company is expected to sell an estimated 950,000 mt to 1.05 million mt of steel products.
USD= BRL 5.17 (August 1)