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UPDATE 1-Brazil's Gerdau's profit plunges 59 percent in third quarter

2014-11-05 19:51:08| Steel - Topix.net

Brazilian steelmaker Gerdau SA posted a 59 percent fall in third-quarter profit compared to last year, as weak steel demand in Brazil weighed on margins. Gerdau, the largest long steel producer in the Americas, reported net income of 262 million reais , which was slightly ahead of analyst forecasts, despite the big drop from last year.

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