Brazilian integrated steelmaker Gerdau said the improved outlook for the domestic steel sector in 2018 is fueled by the gradual recovery of the industrial segment.
In a presentation this week to investors, the company also said it expects to spend BRL 900 million in Capex this year. In the first nine months of the year, Gerdau’s Capex spending reached BRL 602 million. Gerdau spent about BRL 1.3 billion in Capex in 2016, and BRL 2.3 billion in 2015.
As for North America, Gerdau said there are “good perspectives” in terms of steel demand in the country next year.
Apparent steel consumption of steel in South and Central America, excluding Brazil, should reach 22.4 million mt in 2017, and 23.2 million mt in 2018, Gerdau said.