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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.

The European stainless steel scrap market is facing a near-term demand crisis and high uncertainty going into the fourth quarter...

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 world’s steel production stood at 1.95 billion tonnes in 2021, according to the World Steel Association.

Hot-rolled coil advanced 2.3%, while stainless steel gained 0.3%.

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.

This volume is only below what was recorded in September 2020, when Brazil exported 37.47 million tonnes for the month.

Vale added in a securities filing, however, that no decision has been reached yet on any potential transaction.