SAO PAULO Oct 31 Demand for steel products in
Brazil will rise next year thanks to a series of infrastructure
projects, including the sale of rights to operate airports,
roads and railways, André Gerdau-Johannpeter, chief executive
officer of Gerdau SA, the nation's largest
steelmaker, said on Thursday.
The company is optimistic about the outlook for the steel
industry in North America for next year, Gerdau-Johannpeter told
reporters at a conference call to discuss third-quarter
Gerdau, the largest steelmaker in the Americas, beat
third-quarter profit estimates after rising sales volumes and
cost controls in Brazil offset the impact of declining margins
in North America, Europe and India. Net income jumped to 642
million reais ($293 million) in the quarter, up 60 percent from
the prior three months, beating expected average profit of 546.5
million reais in a Thomson Reuters poll of six analysts.