Vale’s JV mill project, Companhia Siderurgica do Pecem (CSP), is expected to increase Brazil’s slab output by up to 37.5 percent, according to several media reports.
As the JV project, which has Posco and Dongkuk Steel as partners, is expected to start up in Q2, Brazilian slab production could jump from 8 million to 11 million, given CSP’s 3 million mt/year capacity.
Recently, Dongkuk Steel said it expected CSP to start up as early as May this year.
CSP’s revenues are expected to reach $1.7 billion/year, as it operates at full capacity. CSP expects to export 100 percent of its output, given the current economic and political scenarios in Brazil.