Gerdau has entered into a definitive agreement with Optimus Steel to sell its wire rod mill and two downstream facilities located in Texas, United States, for $92.50 million, the Brazil-based steelmaker announced on Wednesday January 31.
The Beaumont steel unit has a maximum melt shop capacity of around 700,000 tonnes per year and produces both wire rod and coiled rebar.American Metal Market's assessment for US domestic wire rod was $630 per short tonne fob mill on January 24, up from $600 per short...