Gerdau, Brazil's largest steelmaker, announced further staff cuts in the country while focusing on its operations in the US.

According to Gustavo Werneck, Gerdau's CEO, the decision reflects unfair competition from imported steel, especially from China. According to the Brazilian Steel Institute, foreign steel's market share reached 26% in the second half of 2025, the highest level in history.

Although Gerdau has already cut approximately 1,500 jobs at the two plants in São Paulo, the company said it could make more similar decisions if the government does not act on predatory steel imports.

Furthermore, Gerdau is going to officially announce the investment cuts in Brazil at its Investor Day in October. At the same time, the company will expand its operations in the US, given that the North American market is experiencing a more stable and predictable business environment.