SAO PAULO - Brazilian conglomerate Cosan said on Friday it had acquired a 4.9% stake in Vale and intends to increase its bet in the mining company.

It was a 9.2% decrease from the 2,485,000 permit tons recorded in August and a 10.1% decrease from the August final imports total of 2,510,000.

The report highlights that, in 2021, shipments from domestic steel mills measured 94.7 million net tons (NT), up 16.9 percent from the previous year.

Exports to the three major destinations — South Korea, Vietnam and Taiwan, China.

In the week ending on October 1, 2022, domestic raw steel production was 1,700,000 net tons while the capability utilization rate was 77.1 percent.

In a bid to produce emissions-free steel, Boston Metal believes in skipping the green hydrogen step in the steelmaking process.

“No one seems to be in a hurry to get anything signed right now,” a second producer agreed.

US Steel separately repurchased approximately $300 million of outstanding debt last week, the company noted in the same release.