Brazil's largest long steel producer, Gerdau, expects its margins to maintain the high levels recorded this year in 2022, supported by rising international steel prices and strong demand in its main markets.
Gerdau's CEO, Gustavo Werneck, said his company expects margins in the US market next year to be similar to this year. The US market represents a major profit generator for the company.
However, the outlook contrasts with the uncertainties brought by the omicron variant of the coronavirus to the global economy and the slowdown in the construction industry, with recent retail sales starting to show signs of slowing down.
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