Brazilian steel and iron ore producer Usiminas posted a net profit of BRL 609 million ($114 million) for Q3 2022, against BRL 1.060 billion for the second quarter. During the period, the company’s EBITDA declined by 57 percent to BRL 836 million.
By volume, domestic steel sales declined by 1 percent to 938,000 mt, while steel exports declined by 23 percent to 109,000 mt.
Iron ore sales by volume declined by 1 percent to 589,000 mt, other domestic sales declined by 39 percent to 110,000 mt, and iron ore exports declined by 4 percent to 1.543 million mt.
During the third quarter, the domestic steel sales were destined to the auto industry (32.7 percent), the distribution chain (25.3 percent), and industry in general (42 percent), while steel exports were destined to Argentina (77 percent), Europe (22 percent), and South and Central America (1 percent).
USD = BRL 5.34 (October 28)