Brazilian integrated steelmaker Gerdau said on Thursday it will resume steel output at its Araucaria mill, located in the state of Paraná, by H2 this year. Gerdau said the restart is due to the positive outlook for domestic demand for steel in Brazil.
Gerdau will spend BRL 55 million ($10 million) to restart operations at the mill, which has the capacity to produce 420,000 mt of crude steel per year. The Araucaria mill has been idled since 2014. Gerdau said it will gradually resume activities. It expects to generate 300 new job positions.
Earlier this week, Gerdau also announced it would resume activities at its Mogi das Cruzes specialty steel mill by H2.