Brazil - Latest news GMK Center

The industry demands an increase in the tax on steel imports from the current 9.6-12.8% to 25%

The company plans to increase iron ore mining, steel smelting and rolled steel production in the country

Deliveries increased by 16.8% y/y

Shipments decreased by 9.6% year-on-year

The commissioning of the new facilities was planned for the end of 2024

Supplies decreased by 5.2% y/y

Most of the amount will be spent during 2024

Production increased by 9% q/q in Q2

The production of iron ore pellets in January-June increased by 11.8% y/y.

Compared to June 2022, the volume of foreign supplies decreased by 9.9% y/y

During this period, the company shipped 200 ships with pellets to metallurgists in America, Africa, Europe and the Middle East

The project will increase iron ore production at the Miguel Bournier mine in Gerdau to 5.5 million metric tons per year