There were no expectations of material changes to the US steel market to arise in the short term as a result of Joe Biden taking office as United States president in 2021, Gerdau chief executive officer Gustavo Werneck said on Wednesday November 11.
Werneck also expected a metal spread recovery in the fourth quarter of this year, boosted in particular by steel beams, and he forecast stability for 2021."If you take a look at history, in the past 15-20 years the largest margins were reported by the steel industry in a costlier scrap scenario, not the other way around," chief financial officer Harley Scardoelli said in a conference call held by the...