ArcelorMittal Brasil to suspend operation at Resende plant due to surged steel imports
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Update time : 2023-11-22 15:14:56
Due to the accelerated increase in imports of steel products, ArcelorMittal Brasil will temporarily discontinue the operations at the Resende plant in Rio de Janeiro state, which will affect around 400 employees.
The company will carry out technical shutdowns at different plants in the countries, as alternatives to respond to reduced domestic market demand, which was caused by surged imports and dumping prices from China and other countries.
Jefferson De Paula, President of ArcelorMittal Brazil, said the risk of layoffs is nearing, and this situation may affect the country’s economic growth.
The global steel industry is facing overcapacity, but Brazil is unprotected. It was understood that the Brazilian industry has asked the government to urgently impose a 25% import tax.
