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Usiminas sees Brazil steel demand plunging Q3-CFO
SAO PAULO, July 23 |
SAO PAULO, July 23 (Reuters) - Usiminas (USIM5.SA), Brazil's second-biggest steelmaker, said on Thursday local steel demand should tumble about 30 percent in the third quarter from the same period of 2008.
The company, which late Wednesday reported that second-quarter profit fell 63 percent as demand for steel remained weak and operating costs high, kept unchanged its forecast for volume sales of steel at 6 million tonnes for 2009, said Chief Financial Officer Ronald Secklemann in a conference call.
Steel prices should remain stable in the third quarter, but it is possible they may rise, he said. (Reporting by Guillermo Parra-Bernal and Alberto Alerigi Jr, editing by Gerald E. McCormick)
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