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Despite Exporting 13% Less Brazil’s Long Steel Leader Gets US$ 400 Million Profit

Gerdau, Brazilian leader in the production of long steel in the Americas, had a net profit of US$ 400.9 million in the first quarter of the year. The value is 2.7% greater than that obtained in the same period in 2005.

The good performance in the automotive and civil construction industries helped in the growth. The company’s exports however, dropped 13% from January to March due to the Brazilian exchange rates.

The company produced 3.7 million tons of crude steel, an increase of 5.8% in the segment, and 3 million tons of laminates, a raise in 14.1%. Steel sales added up to 3.7 million tons, an increase in 9.4%.

Gerdau had net revenues of US$ 2.70 billion in the first quarter of the year, with a drop in 3.7% against the first three months in 2005. The consolidated revenue reached US$ 3.18 billion, 4.5% inferior.

Soy Harvest

Brazil should harvest 55.2 million tons of soy in the 2005/06 crop, according to forecasts by the National Supply Company (Conab). The initial forecast, made in April, was of 55.7 million tons, but it was reduced due to climate problems.

The volume, however, still represents a record, since in the previous crop the country harvested 51.4 million tons of soy. Brazil should have, according to Conab, a harvest of 121.1 million tons of grains. In 2004/05, Brazil harvested 113.89 million tons.

Anba

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