Gerdau shareholders will have the possibility of swapping common shares for preferred shares of the steelmaker on a one-to-one ratio, holding company Metalúrgica Gerdau announced late on Wednesday.
Metallic minerals and steelmaking were ranked among the top six sectors with he highest average daily turnover year-to-date, a survey shows.
With the plant in Brazil, Dongkuk became an integrated steel company with full capacity to process iron ore into steel plates.
The growth was supported by production in Brazil and Venezuela, as all other nations in the region reported lower steel production in the period.
While bidding for contracts in the construction of the controversial US-Mexico border wall will not be outlawed, companies' loyalty to national interests will be judged by whether or not they take part, economy minister Ildefonso Guajardo told steel bosses.