|
ArcelorMittal, the global steelmaker controlled by the Indian Mittal family, is preparing a new investment cycle of more than R$10 billion in Brazil, encouraged by a decline in Chinese steel imports following the Brazilian government's trade defence measures.
According to Folha de S.Paulo, the share of imported steel in Brazil's domestic market has fallen from around 25% to 16%. ArcelorMittal Brazil President Jorge Oliveira said the company considers a level closer to 10% more appropriate. Brazil has introduced a series of anti-dumping measures targeting specific Chinese steel products. In February, definitive anti-dumping duties were imposed for up to five years on cold-rolled flat steel products from China. Similar measures were also adopted for certain coated flat steel products, as reported by Brasil 247. Among the projects planned by ArcelorMittal is a confirmed investment of R$4 billion to R$5 billion at its Tubaro unit in Serra, Esprito Santo. The project includes a Cold Strip Mill and a Continuous Coating Line to increase production of higher-value steel products for the automotive, construction and home appliance sectors. According to Brasil 247, the company is also considering an investment of around R$5 billion to expand its Pecm plant in Cear with a new hot-rolled coil production line. Bloomberg reported that a final investment decision is expected by the end of 2026. ArcelorMittal said Brazilian imports of rolled steel reached 5.7 million tonnes in 2025, up 20.5% from the previous year, with imported products accounting for 21% of the market. Brazil is the group's second-largest market, with revenue of about USD 3.15 billion in the second quarter of 2026. In March, the company inaugurated a R$2.5 billion iron ore processing plant in Serra Azul, Minas Gerais. Despite the improved market conditions, ArcelorMittal continues to cite high energy and natural gas costs and Brazil's broader "Cost of Brazil" as competitiveness challenges. (ANI)
|
