The British-owned company has disrupted the local market with a combination of aggressive pricing and racy advertising.
A series of trends have come together in recent years to make elections much more difficult to predict, heightening political risk for investors in much of Latin America, but there may be a silver lining.
The move should help drive down the number of cash machines being blown up, a government official says.
Such a move would cost the Brazilian company about US$260mn in investments to restore just a blast furnace and a continuous casting line, according to sources.
Annual inflation climbed to 5.60% in June. The church called off peace dialogue efforts following attacks on high-ranking clergy while a general strike is planned for Friday.