Brazil-based steelmaker Gerdau expects the No2 blast furnace at its Ouro Branco mill - in the southeastern state of Minas Gerais - to resume production between the end of June and the beginning of July, chief executive officer Gustavo Werneck said on Wednesday May 6.
The blast furnace was idled in early April amid tumbling demand due to the Covid-19 pandemic and falling export prices. It has capacity to produce 1.5 million tonnes per year of crude steel. Total capacity at Ouro Branco is 4.5 million tpy."Ouro Branco has a strong export inclination, but despite a favorable currency exchange, we are in no condition of exporting because of the weakened international market and high cost pressure,"...