According to a statement from Brazilian steelmaker Usiminas, the company recorded a loss of 19.1 million Brazilian reals in the second quarter of 2018, compared to a net profit of 157.2 million reals in the first quarter of this year and 176 million reals in same period last year. The loss was mainly due to the variation of the Brazilian real change rate with USD during the period.
The company highlighted that the first four months of 2018 showed a consistent recovery of the Brazilian economy, with the projections for the main economic indicators constantly revised to reflect the positive outlook; however, in May, the perception of the population and the economic agents was severely shaken by the paralysis of the truckers, which coincided with the moment of sharp rise in exchange between USD and Brazilian real.
