Brazilian flat-rolled steel producer Usiminas has lost the lead in its domestic market due to its strong exposure to the automotive sector, which suffered greatly from the Covid-19 pandemic, sources told Fastmarkets.
Brazil's steel industry took a heavy hit from regional restrictions in the country to contain the spread of the coronavirus. Demand fell significantly in April and recovered at a slow pace throughout the remainder of the second quarter, particularly for flat steel.The company, which has a steel-producing unit each in the states of Minas Gerais and S??o...