Brazilian flats steelmaker Usiminas has shifted over half of its total exports to Europe, following antidumping (AD) cases against Brazilian flats in the US.
“The US isn’t Usiminas’ main export market anymore. We’re now exporting to Europe,” said Sergio Leite, Usiminas’ CEO, while speaking to analysts late last week.
Despite not providing figures, the executive said Usiminas is only exporting HDG to the US.
“About 50 percent of our total exports are now going to Europe. CRC is currently our most competitive product there,” he noted.
Leite forecasted that Usiminas will to continue export monthly volumes of 30,000 to 50,000 mt of flats in Q2. In Q1 this year, the company exported 145,000 mt of flats, or 49,000 mt of the product per month on average.
In Q1, Germany was Usiminas’ main export market, accounting for 36 percent the company’s total exports.