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Brazil’s Usiminas more than doubles profits in 2018

Reuters | February 15, 2019 | 10:01 am Latin America 
Brazil's Usiminas Q2 net profit falls 77% after forex losses
Photo by Usiminas.

Brazil’s Usinas Siderurgicas de Minas Gerais posted 830 million reais ($223.21 million) in profit in 2018, more than doubling its earnings from a year ago, the company said in a securities filing on Friday.

Brazil’s steelmakers have benefitted from higher metal prices in 2018 amid global trade disputes between the United States and China.

($1 = 3.7184 reais)

(By Marcelo Rochabrun; Editing by Mark Potter)

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