Brazil-based Gerdau’s crude steel production fell by 19pc in 2019 from 2018 and by 8pc in Q4 from the prior-year period.
Crude steel production in 2019 was 12.45mn mt, down from 15.34mn mt produced in the prior year. In the fourth quarter ending December, production was at 2.95mn mt from 3.21mn mt in Q4 2018.
Shipments of steel in 2019 was 12.09mn mt down by 17pc from 2018. In Q4, the shipments were 3.07mn mt, down by 3pc from 3.16mn mt in Q4 2018.
In the December quarter, crude steel declined due to lower production at the Special Steel BD and divestment of their rebar operation in North America BD.
| Volumes (1,000mt) | 2019 | 2018 | Pc Change | Q42019 | Q42018 | Pc Change |
| Crude Steel Production | 12,453 | 15,343 | -19% | 2,952 | 3,221 | -8% |
| Shipments of Steel | 12,090 | 14,561 | -17% | 3,078 | 3,167 | -3% |
Financial Performance
Net sales in 2019 were at $39,644mn down by 14.1pc from the prior year. In Q4 revenue fell by 12.5pc to $9,533mn. Gross profit in 2019 was $4,203mn down by 31.6pc from the prior year.