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Simec investing $300 million to increase manufacturing at Brazilian longs mill

Gangya Metal793 people have read

Mexican steel producer Simec revealed financial investments of $30zn al mg steel coil price0 million to increase the manufacturing capability of its Pinda plant, situated in the city of Pindamonhangaba, in the state of Sao Paulo.The Pinda plant creates long steel items as well as the investment will certainly increase production capacity from the present 500,000 mt per year to 1.0 million mt each year, with the brand-new capacity commencing in June 2024. The investment contains a new electric arc heating system and also a new rolling mill, to be created in China with German modern technology. The added capability w1 inch stainless steel tubing coilill cover rebar and wire rod.In Brazil, Simec is the third biggest manufacturer of lengthy steel products, after ArcelorMittal and also Gerdau, having 2 other plants, situated in Cariacica, in the state of Espirito Santo, and also Itauna, in the state of Minas Gerais, both in the Brazilian southeastern region.Considering an ongoing development at the Cariacica plant, Simec will have a 1.7 million mt of rolling capability when the growth of the Pinda plant iGangya steels wrapped up.

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