A summary of Brazilian steelmaker Gerdau's financial results in the second quarter of 2020, as stated in its earnings report on Wednesday August 5.
In briefGerdau's crude steel output in Brazil decreased during the quarter following the stoppage in early April of the No2 blast furnace at its Ouro Branco mill, in the southeastern state of Minas Gerais, and some of its long rolling activities in the country - all were resumed between May and July. The resilience seen in the Brazilian construction sector resulted in long steel sales outperforming flat steel in the domestic market, although the total sales drop in the local...