Mineralogia, Brazil — In a move signaling caution over market dynamics, ArcelorMittal has suspended a $460 million expansion project at its João Monlevada steel plant in Minas Gerais. The decision comes amid sluggish domestic demand and increased steel imports, which climbed 26.4% year-over-year to 2.31 million tonnes during January–May. Although crude steel production rose marginally, only by 0.6% to 13.56 million tonnes, and domestic sales increased a modest 1.9% to 8.32 million tonnes, these gains were not enough to justify expanding capacity. In reaction, the Brazilian government imposed 25% import tariffs on selected rolled-steel categories to provide relief to the local industry.
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