SÃO PAULO Gerdau SAs net profit declined
in the third quarter amid lower steel shipments.
Net income totaled 408 million reais ($200.7 million) for
the period, down 42.8 percent from 713 million reais a year
earlier, the Brazilian steelmaker said in its third-quarter
Gerdaus consolidated steel shipments decreased to 4.77
million tonnes during the third quarter, down 10 percent year
Brazilian steel shipments fell 7 percent to 1.79 million
tonnes on a reduction in exports due to lower international
prices and decreased profitability.
Special steel shipments totaled 625,000 tonnes between July
and September, down 15 percent year on year, mainly due to a
drop in sales by the companys units in Brazil and
The exception was the North American business segment, which
logged an 8-percent increase in shipments to 1.76 million
Between July and September, sales increased 10 percent from
the corresponding period last year, reaching 9.81 billion reais
This growth reflects the increase in net sales per tonne
shipped by all business operations, the company said.
A version of this article was first published by AMM
sister publication Steel First.