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