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Siderperu, the Peruvian subsidiary of Brazilian steelmaker Gerdau, reported a 117% year-on-year rise in Q2 net profit to PEN 25.7 million. The gain was attributed to a positive currency effect and stronger gross profit, with gross margin rising to 14.2% from 8.8%.
First-half net profit was nearly 200% higher year-on-year.
This is a corporate steel earnings result with no link to feed grains, oilseed meals, or livestock supply and demand, so it has no meaningful price implication for feed buyers.
steelorbis.comJul 30, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
