Brazilian integrated steelmaker Gerdau is upbeat on the prospects for the local steel industry, the company CEO said in a conference call with analysts.
CEO Gustavo Werneck said Gerdau expects Brazil’s economy to improve, which would in turn increase domestic demand for steel.
Gerdau’s recent repair of its No. 1 blast furnace at its Ouro Branco mill, located in the city of same name in Minas Gerais state, will help the steelmaker take advantage of the improved domestic scenario, the CEO said.
Repairs at the company’s Ouro Branco blast furnace concluded in September, within the company’s set deadline and according to all company’s planned conditions.