Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Brazilian steelmaker Usiminas’ crude steel production increased by 17pc to 1.5mn mt in H1 2021 compared to 1.3mn mt in the same year-ago timeframe.


Its purchased slab production rose almost four times to 1.32mn mt from 484,000mt during the six-month period under review while rolled steel output rose by 49pc to 2.6mn mt in H1 2021 from 1.7mn mt in the same period last year.


The company indicated in its earnings report on Friday that its sales had grown by 55pc to 2.56mn mt in January-June from 1.65mn mt in H1 2020. Iron ore sales fell by 3pc to 4mn mt from 4.1mn mt in the same period.


Q2 sales hit record

In the second quarter, Usiminas’ crude steel production jumped by 41pc to 751,000mt from 533,000mt from the same year-ago quarter. Its purchased slab production rose over five times to 652,000mt from 116,000mt while its rolled steel production increased by 96pc to 1.3mn mt from 676,000mt in the same period.


The Brazilian steel company reported record sales In Q2 2021, which beat its previous record from Q3 2014. Steel sales during the quarter grew by 116pc to 1.31mn mt from 608,000mt in the prior-year quarter.


Iron ore sales showed signs of recovery in the April-June quarter, with a growth of 8pc to 2.05mn mt from 1.90mn mt in Q2 2020.


The company’s net revenue also recovered after the pandemic, with an increase of 167pc in H1 2021 to BRL16.6bn ($3.2bn) from BRL6.2bn in the same period last year. Revenue jumped by 296pc to BRL9.6bn in April-June from BRL2.4bn in Q2 2020.


($1 = BRL5.17)

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