ArcelorMittal’s steel production in Brazil reached 15 million metric tonnes in 2024, marking a 3.8% increase from the previous year. The company attributed the growth to the expansion of its Vega unit in Santa Catarina, which boosted cold-rolled steel production from 1.6 million to 2.2 million tonnes per year.
ArcelorMittal Brazil is also constructing a new rolling mill in Barra Mansa, Rio de Janeiro, at a cost of R1.6 billion ($284 million), though no production forecast has been disclosed.
Despite record steel imports, the company’s sales climbed by 5.2% to 15.1 million tonnes in 2024, supported by strong domestic demand. However, profits declined by 4.7% to R66 billion due to price pressures and competition from imports.
ArcelorMittal Brazil will announce its global first-quarter 2025 results on April 30.
