StocksMedium•4 November 2026•
1 min read
Gerdau Shuts Down Divinópolis Steel Plant, Cuts 280 Jobs
Key Facts
1Gerdau announced the closure of its steel production facility in Divinópolis, Minas Gerais.
2The plant closure will result in the dismissal of 280 employees.
Gerdau announced the closure of its steel production facility in Divinópolis, Minas Gerais. Benzinga reported that the plant closure will result in the dismissal of 280 employees from the workforce, as the company implements operational adjustments in the region.
Gerdau (GGB) shares closed at $4.66 on November 3, 2026, with the stock trading between $4.61 and $4.7 during that session. This decision follows data released on October 30, 2026, which showed Brazil's unemployment rate holding steady at 5.2%.
Brazil is scheduled to release monthly Industrial Production data on November 5, 2026, with forecasts expecting a 0.2% contraction following a previous 0.6% decline, providing further context for the manufacturing sector's performance.