wiredinUSA August 2015

Brazil’s steel slow down

MORE NEWS

A senior company executive has suggested that ArcelorMittal SA could idle the long steel mills it recently installed at its João Monlevade plant in Brazil. Jefferson de Paula, ArcelorMittal’s South American head of long steel, said at an industry event that there is excess capacity in the sector and stagnating demand for long steel products including rebar, wire rod, rails and drawn wire. De Paula’s comments echo those of Benjamin Baptista, the company’s chief executive in Brazil, who had earlier warned that the outlook for demand in Brazil’s domestic steel market “remains gloomy”.

wiredInUSA - August 2015

20