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RIO DE JANEIRO, July 24 (Reuters) - Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA on Thursday said second quarter net income declined 42 percent compared to the first quarter due to falling iron ore prices and lower flat steel demand.
The firm, known as Usiminas, posted net income of 129 million reais ($58.1 million) on revenue of 3.1 billion reais. The company posted a net loss of 22 million reais during the quarter last year.
$1 = 2.22 Brazilian reais Reporting by Stephen Eisenhammer, Editing by Franklin Paul