“The rebound of the Brazilian economy is already happening,” Usiminas chief executive officer Sergio Leite said at the event to celebrate the BF restart.

The decision to bring the capacities back is connected to the relining of a BF at ArcelorMittal Gent in Belgium, the company said.

Thermal coal prices for South Korea edged higher this week.

“We are recovering in the automotive sector, but manufacturing products have low demand- particularly for white goods going abroad,” the source said.

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Polyus net profit up 63% on higher gold prices