ArcelorMittal's forthcoming hot-strip mill in Mexico will change the profile of the steelmaker's Mexican flat steel business, the company's chief executive officer said during an investor call to discuss its second-quarter earnings on Thursday July 29.
The new Mexican mill - which will add 2.5 million tonnes per year of hot-rolled coil production capacity to the current 4-million-tpy slab capacity - "is expected to be completed at the end of 2021", and will change ArcelorMittal Mexico's profile "from an exporter of semi-finished steel to a downstream steel manufacturer," CEO Aditya Mittal said.Mittal compared the pivot to the growth in the company's Brazilian business, which 10-15 years ago "was primarily a slab business, [and] today it is among the largest domestic players."ArcelorMittal Mexico - the Mexican subsidiary of the world's largest steelmaker - in 2018 announced plans to build a hot-strip mill with capacity of 2.5 million tpy and a 650,000-tpy hot skin pass mill at its L??zaro C??rdenas site in Michoac??n, Southern Mexico.Upon completion, the Mexican project will "enable ArcelorMittal Mexico to produce 2.5 million tonnes of flat rolled steel, 1.5 million tonnes of long steel...