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The office will be opened on November 1 in Rio de Janeiro, Brazil’s largest coastal city and the host of the 2016 Olympic Games.
Demand for steel products and steel raw materials is expected to increase in the region because of the Olympic Games and ongoing economic growth, the company said.
“We will continue to capture demand for steel products and raw materials in the region,” it noted.
The Rio de Janeiro office will be a branch of the company’s local subsidiary, JFE Shoji Trade do Brasil, whose head office is in Brazil’s largest city, São Paulo.
JFE Shoji Trade do Brasil also has a branch in Vitória city, in Espírito Santo state.
These are the only offices JFE Shoji has in South America, and the company also has a Mexican branch of its US subsidiary, which is headquartered in Los Angeles, California.
JFE Shoji Trade Corp, the trading arm of Japanese steelmaker JFE Steel, will open its third office in Brazil in a bid to expand steel import sales on the back of expected demand growth in the country.