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Usiminas Reports 2% Dip in Steel Shipments in 2019

Steel News - Published on Mon, 17 Feb 2020

Image Source: SteelGuru
Brazilian integrated steelmaker Usiminas announced performance results for 2019. It’s crude steel output in 219 increased 6% YoY to 3.26 million tonnes, finished steel production fell 4% YoY to 4.06 million tonnes and finished steel shipments fell 2% YoY to 4.10 million tonnes in 2019. In 2019, 90% of shipments were domestic and the rest exported.

Net revenue of its steel unit was Real 12.7 billion (USD 2.94 billion) in 2019, in line with the Real 12.6 billion in 2018. However, the net revenue of steel unit in Q4 was Real 3.1 billion, down 5.6% year on year, due to lower sales volume and average prices in the period. Usiminas reported net earnings of Real 14.94 billion in 2019, an increase of 9% from 2018, while full year net income amounted to Real 377 million, 55% below the previous year.

The company's iron ore production in 2019 reached 7.38 million tonnes, up 31% from 2018.

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Posted By : Nishith Sharma on Mon, 17 Feb 2020
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