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Market Chatter: ArcelorMittal Plans Year-End Decision on $961 Million Brazil Mill Expansion

MT Newswires Live
Sep 30

ArcelorMittal (MT) is considering a 5 billion Brazilian reais ($960.8 million) expansion of its Pecem steel mill in Brazil and expects to make a final investment decision by the end of the year, Bloomberg reported Wednesday, citing a senior company executive.

Jorge Oliveira, CEO of ArcelorMittal's Brazilian operations, said the proposed investment would increase the plant's annual capacity by 1.5 million metric tons through a new hot-rolled coil line, according to the report.

The project would allow the company to convert more Brazilian slab production into higher-value steel for domestic and other markets, the report said.

ArcelorMittal did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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