Gerdau expects to maintain high profit margins in 2022

Thursday, 02 December 2021 22:34:42 (GMT+3)   |   Sao Paulo

Brazilian integrated steelmaker Gerdau expects to maintain high profit margins in 2022, fueled by increasing steel prices in the export market and high demand within its Brazilian and US markets, according to media reports, citing a company presentation to investors.

Marcos Faraco, vice president at Gerdau, said there should be growing steel prices in the export market in the coming years. “That is how we are looking into 2022,” he said.

The company’s CEO, Gustavo Werneck, said the company also expects high margins for its US business. “We expect stable margins, in line with what has been achieved in the past quarters,” Werneck said, while referring to the company’s US business.

In Brazil, Gerdau expects results in 2022 for its specialty steel division to reach similar levels as achieved in 2021. Gerdau expects domestic sales in Brazil to increase between 4 and 6 percent in 2022, year-over-year.

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