After publishing a record result in the second quarter, the Brazilian steelmaker Usiminas updated its iron ore sales estimation for 2021 will reach 9 million tons. At the same time, the company projected a steel sales volume between 1.2 and 1.3 million tons for the third quarter of 2021.

Usiminas reversed the net loss of R$395 million reported in the second quarter of last year and achieved a record-high quarterly profit of R$4.5 billion between April and June 2021. The company benefited from a combination of solid operating results, tax credit, and exchange prices gains.

The company also reviewed the investment projections for the mining unit, increasing the number of total investments for this year with a value of R$1.5 billion.