Industry News

Gerdau optimistic about 2022 and expects similar margin to 2021, in spite of uncertainties

Views : 107
Update time : 2021-12-10 20:15:36
Brazil's largest long steel producer Gerdau expected that in 2022 it will maintain its margins at the high levels recorded this year, supported by a context of rising international steel prices and strong demand in its main markets.

Gustavo Werneck, Gerdau's CEO, commented that his company expected the margins in the US market next year is to be similar to this year. US market represents an important profit generator for the company. For the Brazilian market, Gerdau expected an increase of between 4% to 6% in domestic market sales, in the face of steel demand in the country will grow 25% this year over 2020, according to Gerdau's vice president Marcos Faraco.

However, the view contrasts with the uncertainties that the omicron variant of coronavirus brings to the global economy and a slowdown in the construction sector, and the recent retail sales have started to show signs of slowing down.
Related News
Read More >>
South Africa launches critical minerals strategy, opens new mining law for public comment South Africa launches critical minerals strategy, opens new mining law for public comment
May .22.2025
South Africa launches critical minerals strategy, opens new mining law for public comment
China's iron ore production declines in Jan-Apr China's iron ore production declines in Jan-Apr
May .22.2025
China's iron ore production declines in Jan-Apr
US’ steel coil exports go up in Mar US’ steel coil exports go up in Mar
May .22.2025
US’ steel coil exports go up in Mar
US increases CRC imports in Mar US increases CRC imports in Mar
May .22.2025
US increases CRC imports in Mar