Gerdau enters Brazilian flats market, looks for export alternatives

Wednesday, 27 February 2019 22:58:19 (GMT+3)   |   Sao Paulo

Brazilian long steel producer Gerdau said during an earnings call with analysts that it is pleased with its entry into the local flats market.

“In terms of production of coil hot-rolled strips in Brazil, we started it a few years ago. And we're very pleased with our entry in flat steels. Our capacity is operating at full speed, catering to the Brazilian market,” said CEO Gustavo Werneck.

“Our quality is very differentiated vis-à-vis the rest of the competition in the market. And I am sure that we will be very pleased with our coil hot-rolled strips production,” he added.

Werneck also addressed the company’s view for steel exports. “We have some challenges in Argentina. I think our (steel) export volumes will be lower (this year) when compared to last year. … We are looking for other export alternatives (aside from Argentina) to compensate the drop in volume in Argentina,” he said.

Argentina is a key market for Gerdau’s exports of specialty steels. Argentina is also Brazil’s third largest trade partner. Werneck said there was a decline in steel exports to Argentina for Gerdau’s specialty steel business in Brazil between the months of May and June.

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