ArcelorMittal could idle Brazil's Monlevade long steel mill

• ArcelorMittal (MT -1.7%) says it likely will idle the long steel mills it recently installed in its João Monlevade plant in Brazil, citing excess capacity in the sector and stagnating demand.
• The comments from MT's South American head of long steel echo those of the company's chief executive in Brazil, who warned yesterday that the outlook for demand in Brazil's domestic steel market remains gloomy.
• Also: GGB -5.7%, VALE -3.3%, TX -0.7%.