Steel Mills
ArcelorMittal Completes CSP Buy
March 10, 2023
ArcelorMittal has completed the acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) for approximately $2.2 billion.
Located in the state of Ceará in northeast Brazil, CSP produces slab and operates a 3-million-ton capacity blast furnace.
“This is a very exciting strategic acquisition for ArcelorMittal,” ArcelorMittal CEO Aditya Mittal said in a statement. “It enables us to capture steel demand growth through the addition of high-quality, cost-competitive slab capacity providing optionality to sell either intra-group or to the North and South American markets.”
CSP’s facility was commissioned in 2016 and has access via conveyors to the Port of Pecém, a large-scale, deepwater port roughly 6 miles from the plant.
Luxembourg-based ArcelorMittal said the buy offers the potential for further expansions, such as the option to add primary steelmaking capacity (including direct-reduced iron) and rolling and finishing capacity.
ArcelorMittal noted that CSP also presents an opportunity to create a new, low-carbon steelmaking hub. The state of Ceará is planning to develop a low-cost, green hydrogen hub in Pecém.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Mills

Op-Ed: Ternium CEO Máximo Vedoya wants a fair future forged in steel
After recently receiving an industry honor on behalf of Ternium, I had the opportunity to reflect and share my vision on the state and future of our industry.

Nippon eyeing new $4B U.S. Steel mill to sweeten deal: Report
Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.

Nucor cuts CSP by $20/ton, third straight drop
Nucor has lowered its consumer spot price by $20 per short ton, marking the third consecutive weekly decrease.

Nucor reports IT systems breach
Nucor said it temporarily and proactively halted some production operations at various locations.

Cliffs talks DOE funding, blast furnace relining schedule
The future of two projects supported in part by funding through the Department of Energy remains uncertain.