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

Tags:

You May Also Like

Brazilian Foreign Traders Call for Less Taxes and Red Tape

The 28th National Foreign Trade Meeting (Enaex), held last month in the city of ...

Brazil to Appeal Shrimp Surcharges After US Election

American fishermen filed a suit with the United States Department of Commerce against six ...

Brazilian Blacks Start News Agency to Spread the Word on Them

Brazil’s Afro-Brazilian Society for Social and Cultural Development (Afrobras) is going to launch AfrobrasNews ...

US Hispanic Caucus Calls in Brazil for LatAm’s Debt Cancellation

Fifteen members of the Congressional Hispanic Caucus in the United States Congress sent a ...

Jeitinho, Brazil’s Creative Way to Break the Law and Feel Virtuous About It

American historian Robert M. Levine, director of Latin American Studies at the University of ...

Top Military Leader in Brazil Warns New Defense Minister Against Left-Wing Actions

Brazilian Augusto Heleno,  a retired general and former commander of UN forces in Haiti ...

No Brazilian Victims in London Terror Attack

Brazil’s Ministry of Foreign Relations, the Itamaraty, informed that, as of this moment, no ...

Money seized by Brazilian federal police on Operation Hurricane

Brazil Federal Police Uncover National Scheme of Sentences for Sale

After an anti-corruption operation called Hurricane (the original name is in English) in Rio ...

Showdown Near Between Brazil and AIDS Drugs Labs

The Brazilian government must soon decide about breaking the patents of three antiretroviral medications ...

Growing Rumors of Finance Minister’s Resignation Leave Brazil Singing the Blues

Latin American stocks were mixed, with Brazilian stocks slumping amid news reports that the ...