Mineria Enlinea reported that ArcelorMittal Brasil has said that steel consumption in Brazil should double in the next 10 years due to opportunities and the need to build more infrastructures in Latin America's largest economy. ArcelorMittal Brasil President Mr Jefferson Denise Paula said “Demand for steel will potentially grow due to the need to build more homes, renewable energy projects, ports as well as oil and gas assets, especially if Brazil does its homework on structural reforms. Brazil has gigantic opportunities. In terms of infrastructure, everything is missing.”Annual per capita steel consumption in Brazil was about 123 kilograms in 2021 as compared to the world average of about 233 kilograms.According to the Instituto Aço Brasil, the Brazilian steel industry, which is operating at 67% of its capacity, is investing BRL 52 billion (USD 10 billion) over the next four years to modernize and increase production. ArcelorMittal itself is investing nearly BRL 20 billion (USD 3.9 billion) in Brazil, of which nearly 40% will go to expanding production capacity by 2024 and USD 2.2 billion to buy the steelmaker CSP
Mineria Enlinea reported that ArcelorMittal Brasil has said that steel consumption in Brazil should double in the next 10 years due to opportunities and the need to build more infrastructures in Latin America's largest economy. ArcelorMittal Brasil President Mr Jefferson Denise Paula said “Demand for steel will potentially grow due to the need to build more homes, renewable energy projects, ports as well as oil and gas assets, especially if Brazil does its homework on structural reforms. Brazil has gigantic opportunities. In terms of infrastructure, everything is missing.”Annual per capita steel consumption in Brazil was about 123 kilograms in 2021 as compared to the world average of about 233 kilograms.According to the Instituto Aço Brasil, the Brazilian steel industry, which is operating at 67% of its capacity, is investing BRL 52 billion (USD 10 billion) over the next four years to modernize and increase production. ArcelorMittal itself is investing nearly BRL 20 billion (USD 3.9 billion) in Brazil, of which nearly 40% will go to expanding production capacity by 2024 and USD 2.2 billion to buy the steelmaker CSP
