ArcelorMittal Sees Risks to Brazil Expansion on Imports, Tariffs
A worker cuts a slab of steel at the ArcelorMittal Brasil SA steel mill in Serra, Espirito Santo, Brazil.
Photographer: Rich Press/Bloomberg
ArcelorMittal SA’s expansion plans in Brazil may be limited due to a surge in cheap steel imports and the effects of US tariffs, said the company’s head of Brazilian operations, Jorge Oliveira.
Brazil’s biggest steel producer has a 25 billion-reais ($4.6 billion) investment budget for Brazil through 2026 and “appetite” to invest another 10 billion to 12 billion reais, Oliveira said Tuesday. But its plans, which include building a new lamination facility in Espirito Santo state to reduce slab exports, could be postponed if imports keep rising.