Gerdau eyes Porto Sudeste bid with Vale to back iron mining

Gerdau is working with partners, including Vale, to structure an offer for Porto Sudeste, a port terminal located in the state of Rio de Janeiro. Gerdau CEO Gustavo Werneck stated on September 29, 2026, that the asset represents an opportunity to improve the company's competitiveness in iron ore mining.

Speaking to journalists at the Congresso Aço Brasil 2026 in São Paulo, Werneck noted that a final decision from the seller remains distant and that it is difficult to confirm whether a resolution will occur this year. He explained that acquiring logistics capacity serves as a potential enabler for expanding iron mining, though capital allocation studies are still underway.

A formal decision on whether to expand iron mining operations will take place within 12 months. Werneck highlighted that Gerdau already holds high-grade mineral rights with low contaminants, but competitive logistics remain a critical factor before allocating capital.

Werneck also called on the next federal administration to maintain commercial defense tariffs on imported steel through Mercosur Common Nomenclature codes. He pushed to preserve past pension, labor, and tax reforms, while reacting to a potential industry incentive program proposed by Vice President Geraldo Alckmin by pointing out elevated costs for natural gas and electricity.