Brazil

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Brazil increased iron ore exports by 6.1% y/y in the first half of the year

The main export destination is China, which accounted for 65% of deliveries

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Brazil introduces import quotas on 11 types of steel products

Supplies in excess of quotas will be subject to a 25% duty

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Vale announced the acquisition of a full stake in energy supplier AGE

The deal is estimated at $540 million. Previously, the company owned 55% of shares in Aliança Geração de Energia

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Gerdau selects Danieli Corus for blast furnace renovation in Brazil

The project includes the construction of a new mining furnace

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Investments in the mining industry in Brazil will amount to $64.5 billion in 2024-2028

The iron ore segment will account for $17 billion of the total amount

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ArcelorMittal closes first deal to sell green steel in Brazil

Steel products have already been manufactured and delivered to two customers

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Brazil’s ArcelorMittal Pecem reaches design capacity

In 2023, the company produced 3 million tons of slabs

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Brazil increased iron ore exports by 10% y/y in 2023

Export of scrap steel from the country has more than doubled in a year

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ArcelorMittal Brasil is temporarily suspending the operation of three plants

Downtime at enterprises will last until December 2023

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Gerdau acquires stake in Brazilian solar park

Arinos Solar Park will supply 30% of its energy output to the company's steel mills in Brazil

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ArcelorMittal Brazil will reduce rolled steel production by 1.3 million tons in 2023

The decrease in the volume of steel production is associated with a large volume of imports of rolled steel into the country

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Gerdau shuts down Brazilian plant in Maracanaú due to cheap imports

The company demands the introduction of a 25% import duty on steel products from Russia and China

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