8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
37.42 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.07 TRY Interest Interest
75.11 USD Fossil Oil Fossil Oil
32.50 USD Silver Silver
4.45 USD Copper Copper
102.15 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,026.19 TRY Gold (gr) Gold (gr)

Gerdau expects steel demand to increase

The company said that thanks to rising economic activities and developments, they expect steel demand in Argentina to increase in the second half of the year.

Gerdau expects steel demand to increase
Andre Gerdau Johannpeter, CEO of Gerdau, said: "The Argentine market is expected to grow by 2.5% in national product at the end of 2017, our investments continue during this second year of the Macri Government and this benefits us."
Gerdau's new 650,000 metric meter Electric Arc Quarry began operations in June in the Perez area of Santa Fe.
The total investment is $232 million, which will increase the capacity of the country's long steel production by 35%.
"It will take about 6 months to 1 year for the studies to stabilize and settle down and will be regular," Johannpeter said.
According to Johannpeter, the new Electric Arc Quarries will be diverted to existing production centers where rebar, scrap and billets are kept.
The company's goal for Electric Arc Quarries will be to end the import of billets costing $100 million.
Gerdau serves many parts of Latin America. The company also provides work within Brazil, including Argentina, Chile, Colombia, Dominican Republic, Mexico, Peru, Uruguay and Venezuela.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

China's steel demand expected to increase: PMI data support production

Tuesday, November 5, 2024

Malaysia initiates review of anti-dumping duties on stainless steel imports

Tuesday, November 5, 2024

China’s stainless steel exports increased by 33,7% in September

Tuesday, November 5, 2024

Kazakhstan government extends ban on scrap exports

Tuesday, November 5, 2024

Thyssenkrupp Steel Europe plans to renovate Duisburg plant

Tuesday, November 5, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now