Brazilian flats producer Usiminas managed to diminish its net loss in Q3 to BRL 107 million from BRL 1.02 billion in the same quarter of the year prior.
The company’s EBITDA in Q3 was BRL 301 million, up from a negative EBITDA of BRL 97 million in Q3 2015. EBITDA margin rose to 13 percent in Q3 from minus 4 percent in the same period of the year prior.
Net revenues in Q3 declined 6.5 percent, year-on-year, to BRL 2.2 billion. Steel sales volumes in the same period reached 959,000 mt, down from 1.1 million mt in Q3 2015.
Iron ore sales volumes in Q3 rose 1.8 percent, year-on-year, to 789,000 mt.