Brazil's Gerdau cuts special steel output on tough market

摘要

Brazilian steelmaker Gerdau is cutting output of its specialty steel starting this month due to low demand in the domestic automotive industry, the company said Tuesday. 《Gerdau will temporarily reduce steel production at its Pindamonhangaba plant,》the company said in a statement. The cut was due to 《the challenging scenario faced by the steel industry in Brazil and the low demand of the automobile industry, its main consumer of special steels,》it said, adding it would lift output again once demand in the domestic market improves.