The decline resulted from a 4.1 percent year-on-year decline in crude steel output in the quarter to 1.86 million metric tons (mt) and a 16 percent decrease in net sales to R$3.03 billion (US$1.9 billion).
Net income slumps 73 percent for Usiminas
Belo Horizonte, Brazil-based flat-rolled steelmaker Usinas Siderurgicas de Minas Gerais SA (Usiminas) reported Tuesday that net income totaled R$111.6 million (US$71.4 million) in Q2 compared to R$406.7 million (US$260.2 million) in Q2 of last year, a decrease of 73 percent.