Brazilian flat steelmaker Usiminas expects the domestic flat steel market to recover next year. The company said it can achieve better results quicker if it keeps selling more HRC and CRC, a company executive told Brazilian newspaper Valor.
The company’s CEO, Sergio Leite, told Valor HDG has sold best so far, fueling the company’s sales growth this year. The increased HDG sales are due to the improved scenario for the local automotive industry, which is exporting more vehicles, Leite said.
Leite added that sales in the local flats market could grow between 5 and 10 percent next year.
Leite also said the company is planning to sell its subsidiary, Usiminas Mecanica, although he did not provide further details about the divestment.