RIO DE JANEIRO, Oct 29 (Reuters) - Brazilian steelmaker Usiminas on Wednesday posted a net loss of 24 million reais ($9.8 million) in the third quarter, as economic weakness in Latin America’s largest economy hurt steel demand.
Usinas Siderurgicas de Minas Gerais SA, as the firm is formally called, earned 115 million reais in net profit for the same period last year.
The company posted a 34 percent drop in adjusted EBITDA to 357 million reais. Net revenue for the quarter was 2.91 billion reais.
($1 = 2.46 reais)
Reporting by Stephen Eisenhammer Editing by W Simon