Usiminas iron ore sales rise in first quarter

Iron ore sales volumes for Brazil-based ore and steel producer Usiminas rose in the first quarter on higher domestic demand after the fatal collapse of Vale's dam at Brumadinho.

Usiminas' first quarter iron ore sales volumes rose to 1.9mn t, up by 5pc from the same period of 2018, despite a drop in production. Iron ore production in the first quarter fell by 1.8pc to 1.3mn t in the previous year.

Export volumes decreased to 868,000t, a 20pc drop compared to the 1.1mn t exports in 2018, while domestic sales to third parties more than doubled to 416,000t from 167,000t year over year.

Internal sales at Usiminas were 612,000t, a 10pc increase compared the first quarter of 2018.

Steel sales fell to 1mn t in the first quarter, a 7.8pc decline from the same period of 2018. Exports fell to 119,000t, down by 30pc, while domestic market sales fell 3.7pc to 885,000t.

Steel production at Usiminas' Ipatina and Cubatão steel production plants fell to 977,000t, a 9pc decrease compared to the 1.1mn t produced in the first quarter of 2018.

The company said it processed 356,000t of purchased slab in the first quarter, a 11pc decrease from the first quarter of 2018.

Usiminas' profits fell 52pc to R76mn ($19.3mn) in the first quarter compared to R157mn in 2018.