ArcelorMittal desafia a ‘crise do aço’ com projeto de até R$ 5 bi no País

Brazil's ArcelorMittal has announced a major investment of between R$ 4 billion and R$ 5 billion in its Tubarão plant in Espírito Santo, a move that surprised the market amid challenging times for the national steel industry. The company plans to install a cold strip mill and a continuous coating line at the Capixaba facility, capable of producing 560,000 tons of products annually, made from hot-rolled coils already produced by ArcelorMittal.

Jorge Oliveira, the president of ArcelorMittal Brasil, stated that this investment will strengthen the company's presence in high-added-value markets, such as automotive, flat steel, and construction. The multinational's move comes after steel companies laid off workers and reduced investments in 2025 due to massive Chinese steel imports that have pressured the local industry in recent years.

The Brazilian government approved import duty increases on certain steel products and anti-dumping measures this year. Although imports have started to decline, falling 18% year-over-year in the first half of the year, the Industry Confidence Index closed at 43 points in August, the lowest level since December, according to the Steel Association of Brazil.

ArcelorMittal said its investment decision is tied to portfolio diversification, focusing on downstream activities and the potential growth of the Brazilian market. The company noted that per capita steel consumption in the country is still low, at around 122.5 kg per year, 41% lower than the global average of 209 kg. Construction of the Tubarão unit is expected to begin in 2026, with operations starting in the first half of 2030.

BTG analysts, led by Leonardo Correa, say ArcelorMittal is targeting segments where Usiminas is more competitive, such as automotive and flat steel, which could potentially impact Ternium-controlled company long-term. They also pointed out that, despite recent Brazilian government measures that have helped the sector, the project's returns will depend on the sustainability of the recent improvement in the import balance.