Steel Mills

CRU: Usiminas may reduce capex unless government strengthens protection
Written by CRU Group
May 2, 2025
Brazilian sheet steel producer Usiminas is likely to revise downwards its plan to invest around BRL1.5 billion ($264 million) in the country this year if the government does not adopt tougher trade defence measures, said CEO Marcelo Chara.
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” he was quoted as saying by the Valor Economico financial newspaper.
Chara highlighted Chinese flat rolled steel imports of 1 million tons in Q1, up 42% on the year-ago period.
Brazilian steel producers have been pressing for stronger protection measures, and is calling on the government’s trade authorities to review the import-quota system by May and impose anti-dumping tariffs on cold rolled steel imports by October.
Despite the challenges, Usiminas reported a net profit of BRL337 million in Q1, reversing a net loss of BRL117 million in the corresponding period of 2024, helped by turnover going up 10% to BRL6.85 billion. The company attributed the improvement to higher steel prices, especially auto steel, and lower costs in its steel division. Steel shipments went up 5% to 1.09 million tons.
Though expecting a stable performance in Q2, Usiminas warned of challenges ahead in the second half from high volumes of unfairly imported steel, an impact on domestic consumption caused by high interest rates, and uncertainties in international trade.
Though the company has limited exposure to the trade war sparked by US President Donald Trump’s tariff policies, chief financial official Thiago Rodrigues cautioned about potential trade diversion and a spike in imports of steel and manufactured goods as a result.
CRU Group
Read more from CRU GroupLatest in Steel Mills
Cliffs touts steel stamping solution to replace aluminum in automotive
Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,
Nucor navigates mixed flat-rolled markets with strategic muscle
Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.
Nucor scraps plans for new rebar micro mill in Pacific Northwest
Nucor has pulled the plug on a planned rebar micro mill in the Pacific Northwest.
Nucor profits jump, but company cautions on Q4 outlook
Nucor’s profits more than doubled in the third quarter year over year, but the company expects Q4’25 to be lower sequentially.
SDI announces proprietary low-carbon EDGE products
Steel Dynamics has announced lower-embodied-carbon steel products BIOEDGE and EDGE, and expects “immediate interest” from several markets for some of the offerings.
