Steel Products
Gerdau Family Execs Step Down
Written by Tim Triplett
August 25, 2017
André Gerdau Johannpeter has resigned as the chief executive of Gerdau SA, one of the largest steelmakers in the Americas, as members of the founding family exit from the company’s executive management. Gostavo Werneck, head of Gerdau’s Brazil operations, will replace him in January.
Also stepping down from their management roles are Executive Vice-Presidents Claudio Johannpeter and Guilherme Gerdau Johannpeter. All three will remain on the Gerdau board.
The company said it had been planning the management shake-up for the past year, describing it as “an important step in the evolution of its corporate governance,” and denied press reports that it was motivated by probes into alleged wrongdoing by the company.
Gerdau is the largest producer of long steel products in the Americas and ranks as the fourth-largest steelmaker of long and flat products overall in North America.
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.
Plate market buzzes with rumors of secret deals from mills
Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.
HR Futures: Forward curve shifts lower, structure maintains
Scraping lower-quartile $800s on nearby futures is bringing limited trading ideas for CME hot-rolled coil (HRC) at present.
Nucor drops HR spot price to $865/ton
Nucor has lowered its hot-rolled (HR) spot price by another $10 per short ton (st) this week.
SMU Week in Review: Aug. 11-15
With so much happening in the news cycle, we want to make it easier for you to keep track of it all. Here are highlights of what’s happened this week and a few things to keep an eye on.