Gerdau expects Brazil's steel orders to recover in May, prices to hold

New orders in May are set to fall by 25% from a typical month - less than the 60% decrease seen at the end of March and in April - as steel demand starts to recover from the Covid-19 crisis in Brazil, Gerdau chief executive officer Gustavo Werneck said on Wednesday May 6.

Construction site work in Brazil was down by 6% from the period before regional government quarantines to prevent the Covid-19 spread, Werneck said. In southeastern Brazil, the largest region for construction, there was a 20% decrease.
Gerdau makes mostly semi-finished, long and special steel in the country, with the construction sector a major outlet for the company's products.

Gerdau's Brazilian unit reported 1.12...

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