Brazilian flats steelmaker Usiminas has updated its steel sales guidance for Q3, while also unveiling Capex spending and iron ore sales projections for 2021.
Usiminas said steel sales volumes in Q3 should reach between 1.2 and 1.3 million mt, in line with the 1.31 million mt it sold in Q2 this year, as reported by SteelOrbis.
The company said Capex spending for its filtering and dry stockpiling project will increase from BRL 90 million ($17.5 million) to BRL 120 million ($23.3 million). Total investments for its mining business, including the filtering and dry stockpiling project, should reach BRL 250 million ($48.7 million) in 2021.
Despite the increased investment for this specific project, the company said its total Capex spending for 2021 should remain unchanged at BRL 1.5 billion ($292.1 million).
Usiminas said iron ore sales volumes in 2021 should total 9 million mt, up from a previous guidance of 8.5-9 million mt.