February 15, 2019 / 11:34 AM / a month ago

Brazil's Usiminas more than doubles profits in 2018

SAO PAULO, Feb 15 (Reuters) - Brazil’s Usinas Siderurgicas de Minas Gerais posted 830 million reais ($223.21 million) in profit in 2018, more than doubling its earnings from a year ago, the company said in a securities filing on Friday.

Brazil’s steelmakers have benefitted from higher metal prices in 2018 amid global trade disputes between the United States and China.

$1 = 3.7184 reais Reporting by Marcelo Rochabrun; Editing by Mark Potter

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