Latest news with #Usiminas
Bloomberg
01-08-2025
- Business
- Bloomberg
JBS's Batista Brothers Expand Into Steel With Usiminas Deal
The billionaire Batista brothers, who control meatpacking giant JBS NV, have expanded into Brazil's steel industry with the purchase of a minority stake in Usinas Siderurgicas de Minas Gerais SA. Investment firm Globe Investimentos SA on Thursday acquired a 5% interest in Usiminas, as the steelmaker is known. Wesley and Joesley Batista are the controlling shareholders of Globe, according to a person with direct knowledge of the matter. The brothers' investment was previously reported by local newspaper Valor Economico.
Bloomberg
25-07-2025
- Business
- Bloomberg
Brazilian Steelmaker Usiminas Flags Risks From Surging Imports, US Tariffs
Brazilian steelmaker Usiminas expressed concern that US President Donald Trump's threatened 50% levy on the Latin American country will add more risks for its exporting customers. While the company's direct shipments to the US are not significant, 'the impact on Brazil's industrial supply chain, and particularly on our exporting clients,' raises concerns, Usiminas said Friday its quarterly earnings release. Tariffs will add to the deteriorating competitiveness in Brazil's flat steel market, the company said.
Business Insider
16-07-2025
- Business
- Business Insider
Usiminas downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Marcio Farid downgraded Usiminas (USNZY) to Neutral from Buy with a price target of R$5.20, down from R$8.40. Despite the recent share price gains and profitability, Usiminas still faces significant cyclical and structural challenges, mainly explained by China's ongoing elevated steel exports in 2025 as well as a need for continuous above-depreciation capex execution to improve efficiency and structural competitiveness, the analyst tells investors in a research note. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Reuters
28-05-2025
- Business
- Reuters
Brazilian steel companies' shares fall after government renews tariff system
SAO PAULO, May 28 (Reuters) - Stocks of Brazilian steel companies fell on Wednesday after the government said it would renew for 12 months a system meant to protect the national steel industry, but that steelmakers have said is ineffective. The steel industry began criticizing the quota system almost as soon as it was set up last year, saying it failed to control the flow of imports, mainly from China. Under the system, as long as the import quota is not reached, steel products can enter the country if they pay import tax of between 9% and 16%. If the cap is exceeded, a 25% tariff applies, Brazilian government news outlet Agencia Brasil said. On the first day of trading following the announcement, CSN ( opens new tab was down 4.4%, Usiminas ( opens new tab dropped 3.6% and Gerdau fell ( opens new tab 1.2%. Brazil's benchmark stock index Bovespa fell only 0.5%. The system, which has been expanded to now include 23 steel products, was already criticized by the sector for being too broad. Tuesday's government announcement retained the exclusion - also criticized by the industry - from the quota and tariff system of imports from countries that have trade agreements or negotiated special conditions with Brazil. The steel sector has urged the government to renew the scheme with the inclusion of all steel products in the 25% tariff, as the European Union and the United States have done. Steel imports rose 27.5% year-on-year in the first four months of 2025, reaching 2.2 million metric tons, according to data from the country's steel mills association, Aco Brasil, which did not comment on the matter on Wednesday.
Bloomberg
14-02-2025
- Business
- Bloomberg
Bond Market in Brazil Gets Recovery Boost After December Rout
Money managers are tipping their toes back into Brazilian assets, cherry-picking dollar bonds of companies like Raizen and Usiminas following a deep selloff spurred by concerns over the country's spending plans. Dollar bonds of Brazilian corporates are handing investors a 2.2% return since the beginning of the year. That's roughly double the average return for corporate bonds in emerging-markets over the same period.
