CVRD still eyes further growth in the steel sector

CVRD still eyes further growth in the steel sector

According to reports from the industry, Brazil's Companhia Vale do Rio Doce (CVRD) is participating as a minority investor in a 1.5 million ton per year slab mill being constructed by Italian steel equipment maker Danieli and South Korean steel company Dong Kuk. CVRD expects demand for slabs by 2007 to jump by 23 million tons to 40 million tons with blast furnaces in Europe and the US starting revamps. CVRD also has a partnership with North Carolina-based steel maker Nucor to produce and export pig iron into the US market.