ArcelorMittal steel output, sales rise in Brazil

: Metals
25/04/30

Global miner and steelmaker ArcelorMittal increased its steel output in Brazil to 15mn metric tonnes (t) in 2024, up by 3.8pc from a year before.

The company credited the performance increase to the expansion of its Vega unit in Santa Catarina state, which bumped cold-rolled steel production to 2.2mn t/yr from 1.6mn t/yr.

ArcelorMittal Brazil is building a new rolling mill in Barra Mansa, in Rio de Janeiro, at a cost of R1.6bn ($284mn) but no production forecast has been disclosed.

The producer's Brazil sales climbed to 15.1mn t in 2024, rising 5.2pc year over year, despite record steel imports into Brazil.

The company attributed the sales uptick to rising domestic steel demand but noted that falling prices and import competition limited profits.

ArcelorMittal Brazil's profit declined 4.7pc to R66bn last year from the previous year.

The company will release its global first-quarter 2025 results on 30 April.

By Isabel Filgueiras

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