Analysts at investment firm Planner said the recovery of several industry segments should help flats steelmaker Usiminas increase steel sales in 2021.
Planner said in a report obtained by SteelOrbis that the automotive, machinery and civil construction industries, which are Usiminas’ biggest clients, are expected to recover in the on-going year from economic slowdown caused by Covid-19.
The report also said appreciated steel and iron ore prices in the past few months should sustain such a trend for the remainder of the year.
“The company will also benefit from resuming its No. 2 blast furnace in June this year, which will help it increase steel output, while also reducing slab purchases,” the report said.