Gerdau to idle one blast furnace at Ouro Branco mill, halt long steel rolling

Brazilian steelmaker Gerdau will idle the No2 blast furnace at its Ouro Branco mill, in the southeastern state of Minas Gerais, this month to adjust operations due to to currently weakened demand because of the Covid-19 pandemic, the company said on Friday April 3.

Blast furnace No2 at Ouro Branco has capacity to produce 1.5 million tonnes per year of crude steel. Furnace No1, which will remain active, has capacity for 3 million tpy.
On top of billet, blooms and wire rod, Gerdau also makes hot-rolled coils and heavy plate in Ouro Branco. The company's main product in Brazil is rebar.

Some electric melt shops' long steel rolling capacity in Brazil will also be halted this month, Gerdau added. The company scheduled maintenance stoppages for the special steel division in the country as well, depending on inventories and client...

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