ArcelorMittal Brasil's Monlevade expansion to supply domestic, export markets

The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on Thursday November 11.

In addition to steel cord, the plant makes special bar quality (SBQ) products, springs and other material, mainly focused on the automotive industry. Strong demand was expected from automakers but also from capital goods producers in the coming years, and this was the principal factor behind the investment decision, he added.
"Estimates not only for the performance of the automotive industry next year but also for capital goods are positive," De Paula said. "The loss of value in the [Brazilian] Real makes it possible to do machinery and equipment import substitutions, while the supply of semiconductor chips to the automotive sector [for onboard electronics] is expected to improve mid-2022."
The current foreign exchange rate, and the higher-quality products made at reduced costs, also meant that Monlevade was competitive in external markets, he added.

ArcelorMittal will invest around $850 million in Brazil by the end of 2024....

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain