Brazilian steel and iron ore producer CSN is investing an estimated BRL 400 million ($77.8 million) to expand its line of pre-painted products.
According to CSN director Luiz Fernando Martinez, as quoted by the local newspaper Valor Econômico, the company has already acquired a pre-painting line with 160,000 mt of yearly capacity belonging to Hyundai Steel that was idled since September 2020.
The line is already being disassembled and will be shipped this month to Brazil, with the expectation of starting operations within the next 18 months.
CSN already produces pre-painted products based on its own production of zinc-coated sheet, with an annual capacity of 120,000 mt. Martinez mentioned that the new line will replace Brazilian imports that have reached 165,000 mt in 2021.
During the first nine months of 2022, Brazil imported 125,000 mt of pre-painted steel products, of which 118,400 mt from China at $1,247/mt, FOB conditions.
USD = BRL 5.14