Gerdau S.A. (NYSE:GGB) Q3 2023 Earnings Call Transcript

And in Brazil, as we speak, with a lower production capacity, chances are scrap prices will remain stable with a downward trend. So this is not our most important concern right now. Like Japur said before, especially for coal, which is a significant raw material, we have no control, no manufacturer in Brazil has control over prices. And we have to be very cautious about the behavior of this raw material in the coming months.

Renata Oliva Battiferro: Thank you, Gustavo. For the benefit of time and respecting your agenda, we’ve been on for one hour and fifteen minutes. This concludes the Q&A Section. Questions which were not answered during our session will be answered to you. Our Investor Relations team will talk to you. And now I give the floor back to Gustavo for the final remarks.

Gustavo Werneck: Thank you, Renata. So, once again, I want to thank you all for joining us today. As always, it was a great pleasure talking to you. I would like to invite you to join our next earnings conference call for the fourth quarter of 2023, which will be held on February 21. So on behalf of Japur, Renata, the whole Gerdau team, thank you very much. All the best and take care.