Brazil’s Gerdau buys out Sumitomo Corp and JSW in Gerdau Summit
The transaction is expected to close in early 2025.
China’s top five utilities have formally protested a government proposal to ban imports of low-grade coal that could jack up their costs, a move that could derail domestic miners’ efforts to boost demand for their coal.
The big utilities have only just begun to see their thermal power businesses turn profitable after haemorrhaging billions over the past five years due to soaring coal prices.
