Gerdau Q2: No Prospect Of Robust Improvement In The Short Term [Seeking Alpha]
USINAS SA B PFD S/ADR (USNZY)
NASDAQ:AMEX Investor Relations:
ri.usiminas.com/?idioma=enu
Company Research
Source: Seeking Alpha
Summary Gerdau released results below expectations, with difficulties in the Brazilian market and stability in the American market. The industry scenario is still quite aggressive with the oversupply of Chinese steel in the Brazilian market. It is not yet possible to say that Chinese incentives will change this. Cost-cutting initiatives and healthy leverage are helping the company get through this difficult time. Monty Rakusen Investment Thesis I recommend holding Gerdau ( NYSE: GGB ) shares after the Q2 results . This report is a continuation of my thesis to start covering Gerdau, which I started on May 7th with the same recommendation. It is worth remembering that Gerdau is the largest Brazilian steelmaker in terms of market value, competing with Companhia Siderúrgica Nacional ( SID ) and Usiminas ( OTCPK:USNZY ). Both competitors face a scenario of aggressive competition due to the oversupply of Chinese steel in the Brazilian market. In the second quarter, the comp
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