Gerdau chief executive officer Gustavo Werneck said the current spread was $422 per short ton in North America, an increase of $20 from the levels seen in January. Such difference is expected to be maintained throughout the second quarter.
In the first quarter, the average spread was $410 per short ton, down from $495 per short ton in the same period in 2019.
“We do not foresee any big changes in ferrous scrap prices or [long] steel prices,” Werneck said in a first-quarter earnings call...
