Mar.25 MetalBiz-- Benjamin Mario Baptista Filho, who was appointed to the
Chief Executive of South
America flat
steel production department by
ArcelorMittal recently, said the
steel market would recover in H2 of 2009.
He said, "Although the domestic market had shrunk 50 pc, the situation would improve."
Baptista Filho expressed the average yield of country's flat steel production amounted to 63pc than that of the same period of 2008 in Jan. and Feb of this year.
He said, "Even though the current steel production capacity was just 60pc in the total capacity, we believed that our current production can hold the market in the next few months."
Clarified Baptista Filho also clarified the rumor that Arcelor Mittal sold its assets of Brazil.
In fact, the companies had 4,900 workers, and they continued to plan to spend $124mln expand production capacity to 4mln tons, and mainly implemented this plan in strip steel production department in Tubarao and Espirito Santo state.
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