According to the Reuters news service, half of what’s produced at the Ouro Branco mill is now being exported, and expanded production off of its higher-value hot-rolled coil and plate lines is finding takers in the United Kingdom and Germany, according to Reuters.

"Brazilian demand is bad, so we must export," Rodrigo Soares, Gerdau's head of Brazilian industrial steel, said on Wednesday, speaking during a media tour.

"Being able to sell so much output abroad shows we can compete internationally on price and quality."

Reuters has the full story here.