Brazil-headquartered
steelmaker Gerdau saw no signs that the downswing in the United States ferrous
scrap market would hurt finished steel prices, and expects spreads to remain at
high levels in the coming months, chief executive officer Gustavo Werneck said
on Thursday May 5.
Volatility in the scrap market was poised to
persist, with decreases potentially offset by a recovery soon, he added. The
company was also enjoying much healthier profit margins than years..