It’s reported that Brazil’s steelmaker Usinas Siderurgicas de Minas Gerais SA (Usiminas) posted a net loss of BRL22 million for the second quarter of this year, improving from a net loss of BRL6.5 million in the same period of 2012 and a net loss of BRL122.7 million in the first quarter of this year.
Usiminas stated that the appreciated US dollars against the Brazilian Real caused a rise in debt-service costs of BRL276 million in the second quarter of this year, rising from BRL237 million in the same quarter of 2012.
Meanwhile, Usimina’s sales amounted to 1.57 million tons in the second quarter of this year, lower than 1.88 million tons in the same quarter of a year ago.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65574&division=A6
