Brazil-based steelmaker Gerdau is investing in new flat-rolled and long steel rolling capacity at its Ouro Branco integrated mill in the country's southeastern state of Minas Gerais, chief executive officer Gustavo Werneck told journalists in a conference call on Wednesday August 4.
The company will increase its capacity for hot-rolled coil (HRC) by 250,000 tonnes per year, to 1.1 million tpy, and structural beams capacity by 500,000 tpy, also to 1.1 million tpy, both to start in 2024. Currently at Ouro Branco, Gerdau makes mainly wire rod and heavy steel plate.In July, Gerdau restarted 360,000 tpy...