Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Usiminas Soars as Deutsche Bank Sees Steel Price Gain: Rio Mover

Usinas Siderurgicas de Minas Gerais SA, the Brazilian steelmaker that had losses in three of the past six quarters, soared to the highest in almost three months as Deutsche Bank AG said it expects an increase in flat-steel prices.

Usiminas, as the Belo Horizonte, Brazil-based company is known, gained 6.1 percent to close at 8.64 reais in Sao Paulo, the highest since May 30. The company’s voting shares, a less-traded type of stock, climbed 6.2 percent, the second-biggest gainer in the Brazilian benchmark Bovespa index.

Brazilian producers of flat steel, used in cars and home appliances, are likely to announce a price increase of as much as 8 percent in the coming weeks, Deutsche Bank analysts Rodrigo Barros and Leandro Cappa said in a note to customers today. The price boost may be “a short-term catalyst” for Usiminas and Cia. Siderurgica Nacional SA, another Brazilian flat-steel producer, they said.

“We believe that higher steel prices in Brazil could be a positive event for the local steelmakers in the short run,” the Sao Paulo-based analysts said. “Investors must be aware that further price increases seem unlikely in light of low export prices from Asia.”

CSN, as the third-largest Brazilian steelmaker is known, rose 3.7 percent to 11.33 reais, the highest since July 6. Gerdau SA is the largest steelmaker in Latin America and Brazil.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.