Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Brazilian steelmaker Gerdau has resumed operations at its Pindamonhangaba steelworks.


The factory is operating with 90pc of its workforce after a group of employees returned to work on August 17, the Pindamonhangaba steelworkers union, SindMetalPinda said in a statement.


Production at the steelworks is expected to reach 38,000mt per month, while its mill No. 3 has also resumed activities at 60pc of its capacity, the union noted in its statement.


Workers resumed activities at the plant after reaching an agreement with Gerdau, which had reduced wages and shifts, to not layoff employees. Now, all the mill’s 2,000 employees will receive 100pc of their wages, SindMetalPinda indicated.


Gerdau’s crude steel output fell by 17pc to 5.6mn mt in H1 2020, from 6.7mn mt in H1 2019, because of mill shutdowns due to the COVID-19 pandemic.


Brazil’s crude steel production increased by 3.5pc to 2.59mn mt in July this year from 2.50mn mt in the same month last year.

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