Expansion● Neutral for Indian equities
Indian group ArcelorMittal plans $1 billion investment in Brazil as Chinese steel imports decline
The brief
- ArcelorMittal plans a $1 billion investment in Brazil as Chinese steel imports decline
- It is also considering around R$5 billion to expand its Pecém plant with a hot-rolled coil facility
- Brazilian expansion may affect global steel competition, with potential implications for Indian steelmakers
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- Brazil's Lula widens first-round lead, remains tied with Bolsonaro in runoff polls